Welcome to your dream home in the idyllic Reverie Estates! This beautiful 3-bedroom, 2-bathroom residence offers a perfect blend of comfort and style, featuring thoughtful design and modern amenities. The home greets you with a landscaped front yard and a charming front porch, perfect for enjoying a morning coffee or evening chat with neighbors. The curb appeal is both welcoming and meticulously maintained, setting the stage for what lies inside. Step through the front door and be captivated by the open concept living space. The main living areas boast luxury vinyl plank flooring, offering both durability and elegance. Plantation shutters are featured throughout the home, providing privacy and a touch of Southern charm. The dining area is perfectly situated between the living room and kitchen, making it an ideal space for entertaining or family meals. The heart of the home, the kitchen, is equipped with a large breakfast bar, built-in appliances, and ample cabinet space for all your storage needs. Whether you're a seasoned chef or a casual cook, this kitchen is designed to inspire culinary creativity. The primary bedroom is a serene retreat, complete with an en-suite bathroom featuring dual sinks and a walk-in shower. It's a space designed for relaxation and rejuvenation. The remaining two bedrooms are bright and spacious, sharing a well-appointed full bathroom. Enjoy outdoor living with a covered back porch, ideal for barbecues or simply unwinding after a long day. The property also includes a detached two-car garage, providing ample space for vehicles and additional storage. This home in Reverie Estates is a rare find, offering a harmonious blend of functionality and style. Don't miss the opportunity to make it your own!
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.
