Searching for a newer home that meets your unique requirements, then make your appointment to see 6709 Maplelawn. Located in the popular Majestic Lakes community, this is a rare find. Built in 2021, this 5-bedroom, 3-bathroom Colonial is a true standout. It offers a modern layout and energy efficiency at a price point that actually makes sense for today's buyer. Best of all is a floor plan with a highly sought-after first-floor bedroom and adjacent full bathroom. This is a rare find in modern Colonials and offers incredible flexibility: use it for multi-generational living, a private space for guests or relatives who prefer to avoid stairs, or the ultimate home office. Like to entertain? Then the open concept first floor is for you. A generous living room connects to a large eat-in kitchen, with plentiful countertop space, beautiful cabinets, stainless steel appliances and pantry - great for gatherings! Since the home is only 4 years old, the major systems (roof, HVAC, water heater) are nearly new. No projects required! Upstairs, you can find room for everyone with 4 large bedrooms and loft area - you finally have the square footage to meet your needs. The primary suite is an oasis with an ensuite bathroom and large walk-in closet. The unfinished basement with egress window is plumbed for another bathroom. Finish it off to your liking. Other features of the home include handsome custom blinds throughout the home, a 12-zone sprinkler system, and a gorgeous composite deck with a spacious fenced-in back yard that backs to open land. There is so much to love about this home and its location - see it today!
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.
