HIGHLY popular Avocet is a vibrant community that offers so much!! It's a place to relax & unwind yet be minutes away from it all,. This well maintained home has a freshly painted exterior with a newer roof (2020) & sits on a roomier corner lot that's privacy fenced! Backyard offers a cozy getaway from it all w/lovely patio for firepit or gathering spot. A garden shed & small raised bed for those who wish to plant your veggies/herbs at home & rain barrels convey! Or enjoy your oasis via the custom 3 season room added in 2021 featuring EzBreeze windows, beadboard ceiling & recessed lights, you'll be wanting every meal to be here! Walk inside to a large chefs kitchen w/huge center island & breakfast bar for maximum entertaining spaces. Plus another dining area + a custom built in coffee/wine bar that makes daily gatherings a breeze! It all overlooks the open family room & cozy corner fireplace. A beautiful formal dining room is off the kitchen & awaits your special occasions. This home boasts GORGEOUS plantation shutters throughout! 1st floor has engineered wood floors and one level living if desired! A large 1st flr primary suite is the perfect respite, featuring trey ceiling, large walk in closet w/built ins, & bathroom that boasts fully tiled arched shower, a soaking tub, & dual vanities, making it a spa like retreat at home! Charming mudroom w/built in coat rack/storage is just off the garage entry with laundry waiting for those rainy days. Upstairs has 3 more bedrooms or can use the 4th bedroom as a bonus room or whatever you like- it's game room ready! This room has a large walk in closet & lovely built ins that's large enough to use as a mini home office/work space, as sellers did! Hall bathroom w/dual sink vanity & storage! Home is WIRED for whole house GENERATOR! The community itself offers something for everyone- pool, soccer field, playground and wonderful walking trails into nature that encompasses the neighborhood pond with it's own dock-come get away at 6200 Fauvette!
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.
