Wonderful 3 bedroom 2 bath ranch home in Indian Trail/ Matthews area, on a large .69 acre lot. Home is located in the back of the Indian Brook neighborhood, a very peaceful setting. The front porch greets you, and once you are in the foyer, you notice the large great room with electric fireplace, vinyl plank flooring and views of your front yard. Primary suite has ceiling fan, closet and primary bathroom/spa with tiled walk in shower w/ glass, newer vanity/sink and round mirror. The kitchen is upgraded with granite countertops, electric range, walk in pantry, painted cabinets, black and gold toned accents. Perfect bar area for a coffee bar, or small office, lovely area for kitchen table overlooking your private backyard oasis. Multiple patio areas for outdoor entertaining, covered gazebo on the lower level and raised deck for dining. The newer privacy fence, huge shed/workshop with pedestrian door access and garage door access, perfect for your toys. 2 car carport for boat/ trailer storage and plenty of room for parking on the large gravel driveway. Pristine crawl space with french drain, vapor barrier, foam insulation boards, dehumidifier, sump pump for french drain, multiple lights. Too many upgrades to list, under cabinet lighting, laundry room cabinets with folding counter above w/d, storm doors on front and back, barn door to separate bedrooms from great room, 2nd bathroom with granite, vinyl floors. Don't miss inside the shed, for a complete get away with so much room for tools/ mowers/ toys.
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.
