***LIVE BEAUTIFULLY*** West Lancaster Upgraded Home w/ A Large, Private Backyard And No Rear Neighbors! Welcome to this well-maintained home featuring a functional layout, inviting living spaces, and a peaceful setting. From the moment you arrive, you’re greeted by charming curb appeal with a manicured front yard and a spacious driveway leading to a 2-car garage. Inside, the home showcases new flooring throughout, complemented by recessed lighting and an abundance of natural light. The open-concept family room offers a cozy fireplace and direct backyard access through a sliding glass door, while the separate living room provides a flexible space for a sitting area, game room, or additional entertaining. The kitchen is designed for both everyday use and hosting, featuring ample cabinetry, generous countertop space, stainless steel appliances, a gas cooktop, and a large center island with barstool seating, all opening to the dining area with seamless backyard access. The spacious primary suite is located downstairs and includes a tray ceiling, ceiling fan, and an en-suite bath with dual vanities, a soaking tub, and a separate walk-in shower. Also downstairs is an additional bedroom and full bathroom, while upstairs features two bedrooms and a full bathroom with dual vanities, offering a layout well-suited for multigenerational living. The backyard is designed for both comfort and functionality, featuring a large curved concrete patio with plenty of space for outdoor dining and entertaining, an expansive grassy area, and block wall fencing for added privacy, all with no rear neighbors. Don’t miss out on this upgraded home offering new flooring throughout, a flexible multigenerational layout, and a spacious private backyard with no rear neighbors—combining comfort, functionality, and everyday living in one inviting property.
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.
