Welcome to Vanderbrook a quiet neighborhood just across from Waterloo High School offers living at its best with nearly 3,000 sq. ft. of beautifully cared-for space.3 bed (could be 4) and 3 1/2 baths. 2 car oversized garage plus oversized shed in back. Thoughtfully upgraded with new fresh paint and light fixtures this floorplan is designed for people who love to gather, relax, and enjoy their home inside and out. From the moment you arrive, the charm is undeniable: landscaping, mature trees, a generous front porch, a large patio, huge side yard and a fenced back yard. It’s the kind of outdoor space that becomes everyone’s favorite place to unwind. A spacious garden building adds even more function and character. Inside, the home flows effortlessly with a wrap-around open concept anchored by a dramatic two-story foyer. The dining room (or flexible front room) leads into an expansive living area with a cozy gas fireplace and a stunning glass-enclosed family room addition featuring a vaulted ceiling and year-round views. The oversized eat-in kitchen is truly the heart of the home—big enough for a farmhouse table, plus a breakfast bar, additional seating, and a separate island. Granite counters with an upgraded edge elevate the space. A mudroom/main-floor laundry connects to the side-entry garage, and a powder room completes the main level. Upstairs, artisan wool flooring sets a refined tone. The primary suite is a retreat of its own with crown molding, a beautifully updated ensuite featuring a custom tile walk-in shower, dual vanities with a makeup station, and an impressive California-Closet-style walk-in closet. Two additional bedrooms and a stylish second bath with terrazzo flooring and custom tile complete the upper level. The lower level expands your living and entertaining options even further—family room, rec room, game room with a bar and wine storage, a full bath, a gym area, and abundant storage. Special touches throughout—crown molding, cordless blinds, recessed lighting, custom millwork, and the side-entry garage—add to the home’s polished feel.
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.
