Step inside and be welcomed by soaring vaulted ceilings and an open-concept layout filled with natural light. The spacious living room flows seamlessly into the beautifully updated kitchen, featuring brand-new appliances, making it the perfect space for everyday living and entertaining. The primary suite offers a private retreat with a walk-in closet and a luxurious en-suite bathroom showcasing porcelain tile floors and walls, a stylish vanity, and built-in shelving that will remain with the home. A second main-floor bedroom features a walk-in closet and direct access to the full bathroom, while the third bedroom is currently used as a home office with elegant wainscoting. The finished lower level is bright and inviting, offering the flexibility of a second living area, office, or additional bedroom. Complete with beautiful flooring, fresh paint, an accent wall, a tiled fireplace, and a beautifully updated half bath with a new vanity and toilet, this space is both functional and stylish. The freshly updated laundry room includes new flooring, fresh paint, and a brand-new washer and dryer. Throughout the home, you'll also find solid wood doors and thoughtful finishes that add warmth and character. Outside, enjoy the brand-new front porch, built in 2025 with treated lumber and convenient storage underneath. The backyard is designed for entertaining with newer concrete, upper and lower decks, and an additional patio seating area. The finished garage features fresh paint, Polyaspartic floors with a transferable 15-year warranty, and a gas heater. Additional highlights include a new water heater, newer furnace with warranty, an existing sprinkler system, and an HOA of just $100 per month, providing access to two private walking trails, one leading to a peaceful lake that's perfect for fishing or canoeing. All measurements are approximate agent to verify.
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.
