THE BEST OF BOTH WORLDS! Are you looking for a secluded, quiet place that is still close to shopping and major freeways? YOUR SEARCH IS OVER!!! This 4-BR, 2-Bath with over 2,038 SQ Ft Cape Cod, has an additional 670 + SQ Ft of finished living space in the basement, for you and your family on a .755 acre lot. It sets on a dead end road yet only a mile a way from the casino, shopping, restaurants, and freeways. After you pull in your double wide concrete driveway, make your way inside to take in the character of the built-ins and imagine how much you can store in all of the extra spaces & rooms! Spend time together in the eat-in kitchen while you cook, bake, doing homework or sharing a meal or two at the peninsula. Work from home in your office with ample sunlight or enjoy your free time relaxing out in the sun room. You can take advantage of a quiet evening right out of your primary bedroom with the access to the backyard to stare at the stars, watch the fire flies, and have a bon fire. The extra entertaining space in the basement is perfect for family and friends to gather on game days and holidays or to curl up and get cozy around the fireplace on a cold day. The additional sitting room upstairs is perfect place to hide away with a good book or transform it into a playroom. The 19 x 9 attic can also be transformed into whatever you imagine it to be. There are two attached garages. One is 13 x 19 and the other is 30 x 13. The workbench in the larger garage stays for your use. CALL TODAY FOR YOUR PRIVATE SHOWING
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.
