YOU'VE GOT TO SEE THIS HOME TO BELIEVE IT!! Beautiful Custom-Built Genuine Log Home. Vast Front Porch w/Handicap Ramp (MAIN LEVEL features) Upon Entry, OFFICE. GREAT ROOM w/Heart Pine Ceilings, Genuine Hardwood Floors, See-Thru Fireplace w/Gas Logs. Bright & Open KITCHEN: has Corian Countertops, Large Island, Separate Breakfast Bar and Custom Cabinets and access to Sunroom & Balcony. FORMAL DINING ROOM: w/Overhead Exposed Beams, Custom Lighting. LIBRARY w/Bay Window. WIDE HALLWAYS. Three (3) BEDROOMS on MAIN LEVEL. IN-LAW SUITE has Living area, Bedroom (tray ceiling), Large Walk-In Closet and wheelchair accessible Bath & Shower. HUGE LAUNDRY ROOM HAS FULL BATH w/Shower. GUEST BEDROOM and GUEST BATH. The Bath Features a Whisky Barrel Sink and Footed Tub. The Spacious PRIMARY SUITE Features Vaulted Ceilings, Flex Room & access to Sunroom. See-Thru Fireplace w/Gas Logs, a Large "California Style Closet". The Primary Bath has Vaulted Ceilings, Vanity with Corian Top and stepless Double Shower with Glass Door. (TWO UPPER-LEVEL LOFTS w/Carpet Floors) LOFT 1- enter thru Dining Room up Stairs to the Vast Open Area with a View of the Great Room. This area has a Half Bath. LOFT 2- Spacious Bonus Area with an Opening to view the Main Level. (BASEMENT - LOWER LEVEL) Hallway access - Take Stairs or Lift Chair to the Daylight, Partially Finished, Open area with Media Room & Half Bath and a SAFE ROOM - w/Kitchenette & Food Storage areas. Exit Basement to Beautiful Covered Patio and Huge Firepit. EXTRAS: A state-of-the-art 10k SOLAR SYSTEM with Battery Backup System; 4 Zoned HVAC System for more efficient Heating & Cooling and 2 - 50 Gal. ENERGY EFFICIENT WATER TANKS WITH HOT WATER RECIRCULATION. The ATTACHED, Over-sized 3 CAR GARAGE has WORKSHOP/STORAGE AREA. The 3rd Bay has Wide Stairs Leading to Storage space. NOTE: This home has so many special Features that are too many to mention. It has so much space, perfect to meet the needs of a Large Family.
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.
