Welcome to this must-see Colonial, nestled in a charming neighborhood. This beautiful brick home, highlighted by its distinctive mansard roof, blends classic charm with thoughtful updates throughout. Step inside to an inviting foyer, where warm tones, character-rich details, and a thoughtfully designed layout create a sense of flow and welcome. To the left, a bright study offers the perfect work-from-home retreat, while the formal dining room to the right features chair railing and a statement light fixture, seamlessly connected to the kitchen for easy entertaining. The spacious kitchen strikes the perfect balance between functionality and charm, offering abundant cabinetry, generous counter space, stainless steel appliances, and views into the stunning four seasons room. The great room provides a cozy gathering space, complete with a brick gas fireplace and beautiful wood ceiling beams. The true showstopper is the four seasons room, featuring vaulted wood-planked ceilings, a wood-burning stove, and a wall of windows that flood the space with natural light creating the perfect year round place to relax and take in the changing seasons. With direct access to the backyard, you’ll find two patio areas one a beautifully designed brick paver patio and the other a concrete space perfect for relaxing or entertaining. The main level is complete with a convenient laundry room/half bath and access to the attached two-car garage. Upstairs, you’ll find four bedrooms and two full baths, including a spacious primary suite with a large walk-in closet (11x5) and a private ensuite featuring a walk-in shower and linen storage. Each bedroom offers its own charming window nook with a built-in bench, adding a whimsical, storybook feel throughout the upper level. Located just minutes from main roads and nearby parks, this home is one you won’t want to miss.
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.
