Discover this beautifully maintained all-brick residence situated within the subdivision of Innerarity Island. This inviting home offers a perfect blend of comfort, functionality, and charm, designed for relaxed living and effortless entertaining. Step inside to an open-concept layout featuring a spacious great room and dining area combination, enhanced by a large window that floods the space with natural light. The kitchen is designed with a breakfast bar, newer appliances and a cozy breakfast nook, creating the perfect flow for gatherings or casual mornings. This home boasts four bedrooms and three full bathrooms, plus a hidden bonus/media room cleverly tucked behind a custom built-in bookshelf — an ideal space for movie nights or a quiet retreat. The split floorplan ensures privacy, with the primary suite situated on the east side of the home. This serene retreat features dual closets and a bathroom complete with a double vanity, floor-to-ceiling tiled shower, private water closet, and a large linen closet. On the opposite side of the home, you’ll find two guest bedrooms and a fully remodeled bathroom showcasing a new tub with tiled surround, updated mirrors, and modern lighting. The fourth bedroom is located on the opposite side of the kitchen and offers its own ensuite bathroom, making it perfect for guests, multi-generational living, or a private office. The home also offers a three-car garage providing ample storage and parking- enhanced with a 50 amp plug for an RV and a 30 amp drop for an electric vehicle charger. The property is partially fenced along the front, the yard is equipped with transfer switch for a generator, zoned irrigation, and landscaped accented with fruit trees and hummingbird friendly plants. A charming gazebo provides the perfect spot to unwind by the fire, while the green space behind the property offers additional fruit trees planted and an easy path to your welcoming neighbor.
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.
