Now Active! Welcome to this exceptional 25+ acre equestrian and cattle property, where country living meets modern convenience. This beautifully maintained Cape Cod offers over 2,358 finished square feet of living space with 4 bedrooms, 3.5 baths, and an unfinished basement, providing plenty of room for family and guests. No HOA Designed with horse enthusiasts in mind, the impressive six-stall barn features a wash rack, tack room, hay elevator, EV plug-in, fire hydrant, and a new metal roof. The property is fenced and cross-fenced with three dual frost-free automatic waterers, a pitless adapter well, and three natural springs, creating an ideal setup for livestock, horses, and agricultural use. The home's exterior showcases durable Hardie Plank siding, a new metal roof, and an inviting front porch with new posts, stairs, and railings. Inside, several rooms have been freshly painted, and the kitchen features new GE appliances along with a reverse osmosis water filtration system. Additional updates include a new Trane HVAC unit in the attic, updated indoor and outdoor HVAC coils, and plumbing in place for a gas water heater with an electric stub available for future conversion. A never-used wood stove provides supplemental heating potential. For peace of mind and efficiency, the property is equipped with a whole-house generator, a buried 1,000-gallon propane tank, and numerous recent improvements throughout. Whether you're looking for a working farm, horse property, or private country retreat, this remarkable 25+ acre estate offers endless possibilities in a picturesque setting. See list of features in documents section.
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.
