Welcome to your dream home in the picturesque community of Scenic Heights! This stunning four-bedroom, two-bath residence boasts an impressive 2,363 square feet of thoughtfully designed living space, perfectly situated on a charming corner lot with a convenient circular driveway. As you approach, you’ll be greeted by the majestic southern live oak tree, complete with a delightful swing—ideal for relaxing afternoons. The beautifully tended grounds set the stage for this inviting home, complemented by a lovely front porch that beckons you to unwind. Step inside to discover a layout that flows seamlessly, perfect for both everyday living and entertaining. You have built-in bookshelves add a touch of character and provide ample storage for your literary treasures, while a cozy fireplace creates a warm focal point in the living area. Crown molding in all the main areas—living room, primary bedroom, dining room which shows the elegance, and fresh paint creates a bright and welcoming ambiance. An abundance of storage, including extra cabinet space under the bar, enhances the functionality of this lovely home. Recent updates elevate this home to a new level of comfort and reliability: the roof is only two years old, and the water heater was replaced just six months ago, ensuring peace of mind for years to come. This home was partially renovated in 2022, allowing for modern living while maintaining its charm. Enjoy outdoor gatherings on the brand-new deck, completed just a year ago, with new French doors offering easy access and an abundance of natural light. The fourth bedroom located downstairs, features its own entryway into the house Additionally, this property features a workshop/storage area, perfect for all your hobbies and projects, providing both functionality and convenience. With all-new blinds and a thoughtful layout, this home is ready for you to move in and make it your own. Don’t miss your chance to own this exceptional property. Schedule your showing today.
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.
