Welcome to your own private sanctuary in the desirable gated community of Chattam Landing at Ridgemoor. This beautifully updated 3-bedroom, 2-bath corner-lot home features an OPEN FLOOR PLAN with soaring vaulted ceilings, abundant natural light, and four sets of French doors that seamlessly connect the living spaces to the courtyard-style pool area. With over $130,000 in recent upgrades, this move-in-ready home offers a unique blend of style, comfort, and functionality. The completely REMODELED KITCHEN opens to the dining and living areas and showcases leather-finish granite countertops, an extended breakfast bar, custom 42-inch wood cabinetry with soft-close doors and drawers, stainless steel appliances, & LED lighting. This home's relaxing ambience is accentuated by its NEW ELECTRIC FIREPLACE & custom designed surround in the living room. The primary suite offers a spacious EXTENDED WALK-IN CLOSET and a SPA-INSPIRED BATH with dual sinks, quartz countertops, and a zero-entry walk-in shower with floor-to-ceiling tile & river rock floor. The secondary bath features a Safe Step hybrid walk-in tub and shower with hydro jets, aromatherapy, & heated seating. Designed for year-round enjoyment, the PRIVATE OUTDOOR OASIS includes a SCREEN ENCLOSED COURTYARD POOL with new surface and tile surround, solar heating, Timber Tech composite decking, shade sails, & salt chlorinator. The lanai area features an electric fireplace, custom bar area with sink and refrigerator, and inviting spaces for relaxing or entertaining! The third bedroom has been transformed into a flexible espresso/wine lounge with built-in coffee station, wine fridge, & sleek wood slats giving it a Zen like feel. Can easily be converted back to a bedroom. The two-car garage has been professionally designed and provides the perfect workspace with epoxy flooring, butcher block countertops, steel cabinetry, ceiling-mounted storage racks, & slat wall organization. New water heater & new water softener in 2024. HVAC system replaced in 2018. TILE ROOF REPLACED 2016. Don't miss this opportunity to make this one of a kind home your own!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
