Welcome to this beautifully remodeled brick ranch nestled on 3 acres, offering the perfect blend of modern updates and peaceful living. This spacious home features 4 bedrooms and 2.5 baths. A 5th bedroom could be possible for the office/study area. The total square footage includes the basement with it's additional 4th bedroom and full bath. Step inside to discover a stunning interior that truly shows like a model home. The home has been completely renovated with a fresh, open layout, new flooring throughout, and a fully updated kitchen and bathrooms. Most windows have been replaced, enhancing both energy efficiency and natural light. Roof was re-shingled 2021. The finished lower level is designed for entertaining, boasting a large gathering room complete with a bar (negotiable), a bedroom and a full bath along with multiple storage areas for added convenience and a bonus room. Outside, enjoy the attached oversized two-car garage and a large outbuilding, perfect for hobbies, storage, or workspace needs. Relax on the rear patio or enjoy the hot tub that stays with the home. All appliances also remain, and the home is outfitted with energy-efficient LED lighting throughout. Mounted TVs will be removed prior to closing, with walls being repaired. With its beautiful curb appeal and prime location just minutes from shopping and dining, this move-in-ready home offers the best of both comfort and convenience. This is truly a home that must be seen in person to fully appreciate the quality of the remodel and the impressive sense of space created by the open-concept design. There is city water at the street should you decide to connect. Square footage is estimated - rely on your own inspections to verify.
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.
