Tucked inside the gated community of Woodridge Village in the Medical Center area, this charming two-story home offers both convenience and a sense of retreat the moment you arrive. Imagine coming home after a quick commute, passing through the neighborhood gates, and pulling into your own spacious property where comfort and flexibility await. Step inside to a light, refreshed interior with fresh paint and brand-new carpet, creating a clean and welcoming atmosphere. The main level invites connection and ease, with a generous living space that flows naturally into one of two dining areas-perfect for everything from weeknight dinners to hosting. A second dining space offers versatility, whether you envision holiday gatherings, a breakfast nook, or even a creative workspace. Upstairs, a second living area opens even more possibilities. Picture a cozy movie night, a game room, or a quiet work-from-home setup, the loft flex space easily adapts to your lifestyle. The separation of living spaces on each floor allows everyone to spread out while still feeling connected. At the end of the day, retreat to the oversized primary suite, where there's room to create your own private haven-add a sitting area, reading nook, or simply enjoy the extra space to unwind. The en-suite bath enhances the experience with both a soaking tub and separate shower, offering the perfect place to relax and recharge. Outside, the large backyard becomes your personal escape. A covered patio sets the scene for morning coffee in the shade or evening gatherings, while the additional shed provides practical storage for tools, hobbies, or seasonal items. Blending space, comfort, and a prime location, this home offers a lifestyle that's as functional as it is inviting-ready to be lived in and enjoyed from day one. Additional upgrades include a new HVAC system and water softener.
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.
