Exceptional 5-Acre Farm House in Historic Medford Village ***PRICE REDUCED*** Discover the rare opportunity to own an impeccably renovated home on a sprawling 5-acre property nestled in sought-after historic Medford Village, minutes from boutique shops, dining, parks, and highly rated schools. The unique 5-acre parcel offers privacy, beauty, and expansion potential for your family, or your business. A portion of the lot is wooded with a private nature path that leads to a picturesque creek. Even more rare are the public water and sewer services to the property! Your new home offers updates throughout with all of the big-ticket items taken care of for you! The roof and HVAC were replaced in 2021 with a second central air system added to the 2nd floor and a mini-split system added to the rear Sunroom in 2024 to ensure cool summer days and warm winter nights throughout the home, and the driveway was newly seal-coated within the last few weeks. The 1st floor offers an expansive ensuite with custom window treatments, a private living room, renovated full bath, and new in-suite laundry space. Perfect for multi-generational living, or those who simply want flexibility in their living space. A HUGE newly renovated kitchen offers modern finishes, luxury vinyl flooring, tons of storage, under cabinet lighting, drawer lighting, a touchless trash & recycling cabinet, and 2 dishwashers! Perfect for entertaining! A newly added mudroom with storage bench, new custom half bath, and luxury vinyl flooring add to the seamless functionality of this space. Custom built-in cabinets, an eat-in area, newly carpeted and painted rear sunroom, a newly painted living room with charming and functional fireplace complete the 1st floor. As you move to the 2nd floor, you will find 3 generously sized bedrooms in addition to a 2nd ensuite bedroom with a fully renovated private full bath and walk-in closet. The full hall bath was refreshed within the last 30 days. Within the last few years, all of the second floor spaces received new carpeting, wall finishes and updated fixtures. The 2nd floor also has a newly installed stacker laundry area and a new central air system. Your finishing touches can complete the fully finished basement. The owners have added newer luxury vinyl flooring to the main living area and carpeting to the additional rooms. These spaces are ideal for a home theater, gym, or family retreat. A nostalgic bar area, additional fireplace, walk-up stairs, and a utility room complete this versatile space. A large, detached garage with shelving and high overhead space is perfect for your vehicles, storage, workspace, hobbies, and an unending list of other possibilities. A porch to enjoy colorful sunrises, a large rear deck to watch the deer pass by in the morning, and a firepit space to watch the colors change on the trees in the fall add to the ambiance of this expansive property. An additional tool shed will help keep things organized! This home is a seamless blend of timeless charm and modern sophistication. Whether you're hosting weekend gatherings on the expansive lawn or simply enjoying tranquil mornings in the sun-drenched kitchen, you'll feel the unique magic that makes Medford Village so beloved. The owners are contingent upon finding suitable housing prior to closing. The listing agent has a financial interest in the sale of this property.
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.
