Not every home at this price point has been loved like this one. After years of thoughtful updates, this home is genuinely move-in ready. The kind of place where you unpack and just live. Rich engineered handscraped hardwood floors flow through the main living areas, with new six-panel doors and trim throughout. A comfortable living room greets you at the front of the home, and the separate dining room off the kitchen is ready for everything from weeknight family dinners to holiday entertaining. The kitchen remodel leaves nothing to want: new cabinetry, quartz countertops, tile backsplash, undermount lighting, and updated appliances. The family room is made for togetherness. Curl up by the fireplace, hang the stockings from the mantel come December, and step out to the deck and backyard beyond. The updated half bath rounds out the main floor with ceramic tile backsplash, a new vanity, quartz countertop, and updated fixtures. The owner's suite offers double closets, newer carpet, and a ceiling fan. The remodeled owner's bath features tiled floors, a tiled shower, and quartz countertop. Secondary bedrooms have engineered hardwood and ceiling fans. The finished basement gives you room to grow. A playroom, home office, or workout space. And the big stuff? Already handled. Triple-pane windows (2018), A/C (2018), furnace and humidifier (2022), electric panel (2017), hot water tank (2018), gutters and gutter guards (2018), insulated garage door with opener (2018), sump pump with alarm (2020). Roof replaced 2012. Just to name a few of the updates. The large fenced backyard with deck (2020) backs to open green space of Alpine Elementary which means no rear neighbors! Room to breathe. The sellers even built a wishing well out back. If you've been wishing for a home like this, it's ready for you!
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.