A nature lovers home nestled in a cul-de-sac with a creek behind the fully fenced yard. Discover the potential for your next chapter at this four bedroom with a full basement in sought after area of Grassy Creek. This lot and home layout is designed for comfortable living. This property presents an opportunity to create a personalized sanctuary within a desirable community. Sit on the screened in porch to watch the sunset behind the house. The home has living areas for everyone in the family. A living room, family room and the basement can be set up for a man cave, theatre room or home office. Basement flooring is covered with polyurea flooring from Galaxy Flooring for a beautiful finish. The main floor has new vinyl plank flooring. Kitchen is well laid out with center island and two eating areas for a quick meal in the kitchen-great room area or a formal meal in the dining room. So much space. The residence encompasses four well-proportioned bedrooms, providing ample space for rest and rejuvenation. The primary bedroom has a walk in closet, a tub and a shower and double sinks. Primary is separate from the second full bath that has a double bowl vanity and other three bedrooms. Two full bathrooms and one half bathroom cater to both privacy and convenience for residents and guests alike. Spanning two stories, this home provides a natural separation between living and private spaces. The generous 16,291 square foot lot offers considerable outdoor potential for recreation or gardening. The garage is two and a half car garage. Closets in the garage and extra space for tools. Ladder to attic space for more storage. This property invites you to envision a life of comfort and personal style. Hard to find this kind of lot so close to the city.
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.
