Nestled in the charming CARMODY HILLS neighborhood, this delightful raised ranch offers a perfect blend of comfort and style. Built in 1972 and meticulously maintained, this home boasts a warm and inviting atmosphere that is sure to make you feel right at home. As you step inside, you are greeted by an open floor plan that seamlessly connects the living spaces, creating an ideal environment for both relaxation and entertaining. The gleaming hardwood floors add a touch of elegance, while the natural light streaming through the windows enhances the welcoming ambiance. The galley kitchen is featuring modern stainless steel appliances that make meal preparation a breeze. This residence offers four spacious bedrooms, including a convenient entry-level bedroom that can easily serve as a guest room or home office. With two full bathrooms, morning routines are simplified, ensuring everyone has their own space to unwind. The fully finished basement provides additional living space, perfect for a recreational room, hobby space, and allows for endless possibilities to suit your lifestyle. Move in with peace of mind, knowing that this home has been well cared for. The combination of modern amenities and classic charm makes this residence a true gem in the market. This home is just a short distance from local amenities, parks, and recreational opportunities, making it an ideal choice for those seeking a vibrant lifestyle. Don't miss the chance to make this beautiful raised ranch your own, where comfort meets convenience in a space that truly feels like home! SOLAR PANELS FULLY PAID OFF!
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.
