Thoughtfully designed with custom craftsmanship and one-of-a-kind finishes throughout, this home offers a level of character and quality rarely found in today's market. Step into the GREAT ROOM, where large windows fill the space with natural light, perfect for relaxing or entertaining, stunning custom fireplace wall with floor-to-ceiling tongue and grove wood, and a handcrafted mantel that adds character and charm. The modern electric fireplace has customizable flame settings that add both comfort and contemporary style. The mud room or "DROP ZONE" space has convenient bins and a bench seat for organizing shoes, coats, backpacks and everyday essentials, keeping clutter at bay. THE KITCHEN IS STUNNING, featuring upgraded cabinetry, stainless steel appliances-including a THOR gas range and double oven with a designer stainless steel range hood for high performance ventilation, granite countertops, extra large pantry, dual purpose jumbo island with solid walnut-serving both as additional countertop space but also as a kitchen table. RETREAT TO THE SPACIOUS PRIMARY BEDROOM that has been updated with new paint, vaulted ceiling and a second modern electric fireplace with customizable settings. LUXURIOUS SPA-LIKE PRIMARY BATH with a freestanding soaking tub, oversized walk-in glass shower with rainfall head, custom tilework, vessel sink vanity, quartz counters, and an incredible built-in dressing area with abundant storage and organization. SPACIOUS BASEMENT with huge family room, and 3 additional bedrooms with a recently remodeled bathroom, large storage room. ADDITIONAL HIGHLIGHTS:, smart garage door opener with camera feature, energy-efficient solar panels that will be paid in full at closing, and an epoxy coated garage floor. WHY GO THROUGH THE HASSLE OF BUILDING when you can move right into this fantastic home, complete with a PROFESSIONALLY LANDSAPED .19-ACRE LOT that includes a private covered patio/gazebo, in ground trampoline, professionally built kid's playhouse, hot tub, and a huge RV parking area. Ask your lender about the USDA RURAL HOUSING LOAN with zero down payment! SANTAQUIN CITY is an escape from the big city with a strong sense of community. The home is close to schools, shopping, dining, and multiple nearby parks and playgrounds. Five minutes to I-15, and only 20 minutes to Provo/Orem! Square footage figures are provided as a courtesy estimate only and were obtained from the county records. Buyer is advised to obtain an independent measurement.
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.
