FINALLY... THE HOME YOU’VE BEEN SEARCHING FOR! Welcome to your spectacular home in the coveted Pace Mill Creek subdivision. A winding tree-lined road helps you begin to unwind before pulling into your spacious 2-car garage, while rare neighborhood sidewalks allow for a safe evening stroll. Elegant curb appeal leads you to the welcoming covered front porch. Enter through the large foyer to find cathedral ceilings over beautiful tile flooring throughout the main living areas and comfortable carpet in the bedrooms. The Living Room provides a large wall for your big screen TV and plenty of space to gather friends and family for the big game or movie night. Prepare holiday meals in your stunning kitchen featuring Granite Countertops, Stainless Appliances, Plenty of Cabinet Space, Double Sink with Disposal, Spacious Island, Large Pantry, and a convenient Eat-In Kitchen. Just off the kitchen is the large Formal Dining Room, which could also serve as a Home Office or Playroom, complete with elegant transom windows. The split floor plan gives the Master Bedroom a truly secluded feel. There is plenty of space for a King Size bed as well as large bedroom furniture, while the wonderful backyard view allows for plenty of natural light. The attached Master Bath serves as a private oasis with its Granite Double Vanity, Garden Tub, Separate Shower, LARGE Walk-In Closet, Tile Flooring, Linen Closet, and Private Water Closet. To round out the indoor living space, there are three additional Bedrooms with spacious Closets surrounding the second Full Bathroom, as well as a sizable Laundry Room with shelving and garage access. Step outside to your Outdoor Living Space. The Covered Porch allows you to settle back and admire the spacious Privacy-Fenced Backyard with included Playset to keep the kids busy for hours. The possibilities are endless with plenty of room for your dog to run free or add a pool, fire pit, or BBQ area. DON’T LET THIS ONE GET AWAY — COME SEE YOUR NEW HOME TODAY!
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.
