$20k in credits for buyer at closing... This home sits on just over a 1/3 acre, high-elevation lot with mature trees and a massive backyard ready for you to make it into a multi-play area for your kids, a professionally-designed entertainment? space for friends and/or family, or how about your own Olympic size pool, or a combination of all the above with plenty of yard left over. This two-level gem has a well laid-out design that features four bedrooms all with new flooring, two and one half bath, including a master bedroom with an accent niche the lengh of the room, and plenty of closet space, a separate family, living room, dining room, with a semi-privacy planned area, all interior areas of the home has freshly painted walls and ceiling with new baseboards, beautiful white? energy efficient, double-pane decorative New South windows installed throughout this family-friendly oasis. Adding even more value there is an added step-down sunroom fully enclosed/with 3/4 length windows providing an unimpeded view of its huge backyard, perfect for a relaxation retreat, a learning center, a competition gaming area, a fitness center or more... The centralized kitchen featuring $$$ in updates with a ton of cabinet space and new eggshell colored wood cabinets and new marble counter tops with an abundance of prep and entertainment space, all situated in the middle of all the action, with a complete view to all the first level living spaces and a perfect view overlooking the enormous back yard. Mature trees to help keep your home cooler and heating bill lower in the summer months. All bedrooms are uncharacteristically spacious, all of which are located on the second level, away from curious eyes, for maximum privacy. This sanctuary home has a four-point certified new roof as of 8/2021 prepared to withstand any named hurricanes or storms. This home is also tucked away on a quiet.., nearly No-Traffic cul-de-sac inside this established community. You will appreciate the well-kept surrounding homes and community where you will save over $1k yearly "BY NOT HAVING TO PAY AN HOA" fee. The home is priced to sell in this market and is sure to garner multiple-offers, so only the highest, best and most competitive offers will be considered, so get yours in early, and best wishes. With that said this seller is motivated to sell and will provide
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.
