***OPEN HOUSES THURSDAY AND SATURDAY***Need a little more space than a condo or apartment? looking for that pride of home when you park in front of this beautiful red door? Stepping inside won't disappoint either. Drop your bags and kick off your shoes in the entry, and close the hustle of the world behind the front door. Will you flop on a sofa and watch TV in the family room, with a front row seat to the sounds and smells of the kitchen? or save that for the lower level den instead? The main level also provides a convenient powder room, and separate dining room. Speaking of the kitchen, stainless appliances and dark granite counters are a modern contrast to the white cabinets, tile, and warm hardwood floors. Bonus lifestyle feature is the walk out to the back deck for cool breezes and conversations with friends into the summer nights. The finished lower level has a third full bathroom, and room that would make a great gym, office or space for overnight guests. When it's time to call it a night, the top level has two bedrooms with a lovely bath to share, plus the primary suite with vaulted ceilings. Just enough space to keep this home in an affordable package, with immediate access to express lanes for commutes, and all the essentials and luxuries nearby like hospital, shopping, groceries, dinner and a movie night out. Need parking? Comes with 2 assigned spaces, and plenty of street parking for guests. Asher View Association includes popular amenities like the outdoor swimming pool, a clubhouse, a playground, basketball and tennis courts. Move Right In!
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.
