If you like to entertain then this is the home for you! 608 Fountain Ave offers an open floorplan which is perfect for those who like to gather for a game or family events. An amazing kitchen with tons of counter and cabinet space is waiting for you. Open to the living room and dining area. Updates include Quartz counter tops, white cabinets and stainless steel appliances. Custom woodwork accents the walls of the main level. Upstairs you will find 3 ample sized bedrooms all with hardwood floors, ceiling fans and plenty of closet space. The lower level provides more space for kids to play. There is a private room that is currently used as an office but could be a fourth bedroom if you choose. The laundry room is big. Here you will find an updated HVAC system and hot water heater plus an access panel for storage under the house. It also has one of two doors that lead to the back yard. The current weather doesn't allow you to appreciate what the backyard has to offer. It's the perfect staycation space. Ample concrete and block work offer plenty of sitting or sunbathing space around the Gunite built in pool. This pool has a portable safety fence for the kids and a new cover for the winter months. 6-foot vinyl fence keeps everything private. The solar panels will help keep your energy bills low. Another unique feature to this home is the enclosed breezeway. It has its own HVAC system via a mini split system. It allows you to enjoy these cold winter months and still feel the sunlight. The garage is larger than it appears. Custom storage is built in and has access via the enclosed breezeway. This is a home you are going to want to see so don't delay.
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.
