Back on the Market-no fault of the home. Buyer's financing fell through. New Roof. New Sewer line. New Radon system. James Hardy cement siding means no painting - ever! This home has had a complete makeover and it shows! Step inside and feel the difference. This beautifully renovated 3-bedroom, 2-bath ranch in Tollgate Village has been thoughtfully updated from top to bottom - and the results are stunning.The heart of the home is a fully reimagined kitchen featuring new countertops, painted cabinets with brushed nickel hardware, stainless steel refrigerator, new lighting, and a brand-new picture window that floods the space with natural light. A converted pantry and redesigned butler's prep area add serious function to the style. This kitchen works as hard as it looks good.The open living room impresses with vaulted ceilings, a wood-burning fireplace, and sliding doors leading to a private patio-perfect for morning coffee or winding down after a long day. Fresh interior paint and LVP flooring throughout give every room a clean, cohesive feel. One bedroom, tucked off the living room has its own private back entrance, offers flexibility as a home office or guest room. The primary suite, down the hall for added privacy, includes a walk-in closet and 3/4 bath. Downstairs, the partially finished basement adds a flex room ready for a gym, playroom, or your hobby space - plus a large laundry room and ample storage.Outside is james harding cement siding so no need to ever paint, plus hail, bird and bug resistant! Plus enjoy a low-maintenance backyard with a patio, wood privacy fence, and garden beds ready for spring planting. The 2-car garage rounds out a home that truly has it all.And the location? Hard to beat. Walk to Tollgate Elementary, Tollgate Park, and the Toll Gate Creek Trail. Drive 5-10 minutes to the city, RTD, groceries, and dining, DIA just 20 minutes away - then come home to a neighborhood that actually feels like one.
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.
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