3% Assumable Loan Available! Location, curb appeal, and space—this home truly has it all! From the beautifully landscaped front yard to the inviting covered front porch, you'll feel right at home the moment you arrive. Inside, you'll find an open and functional floor plan with luxury vinyl plank flooring throughout the main living areas. The spacious great room is filled with natural light and seamlessly connects to the kitchen and breakfast nook, creating the perfect space for everyday living and entertaining. A French door leads directly to the backyard, extending your living space outdoors. The kitchen features a large center island, stainless steel appliances, ample cabinetry, and a pantry for additional storage. For more formal gatherings, enjoy the dedicated dining room with a large front-facing window and beautiful views of the covered porch. The private primary suite is conveniently located on the first floor and offers a spacious bedroom, ceiling fan, and abundant natural light. The ensuite bath includes double vanities, a garden tub, separate walk-in shower, private water closet, and a large walk-in closet. A powder room is also located on the main level for guests. Upstairs, you'll discover a massive loft area that provides endless possibilities—whether you envision a media room, game room, homeschool space, or the ultimate football watch party destination. Four additional oversized bedrooms are located on the second floor, each offering generous closet space and room to spread out. A full bathroom with double vanities and a tub/shower combination serves the upstairs bedrooms, while the conveniently located second-floor laundry room adds everyday practicality. Step outside to enjoy the privacy-fenced backyard, complete with an open patio that's perfect for grilling, relaxing, or entertaining family and friends. With its desirable location, flexible floor plan, and attractive assumable loan opportunity, this home is one you won't want
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.
