Discover unparalleled comfort and spacious living in this modern two-story residence, ideally situated on a tranquil cul-de-sac. The extended front porch & an extra-wide, long concrete driveway provide ample parking and a welcoming approach. A convenient sidewalk encircles the entire perimeter of the home, enhancing its accessibility. The expansive lot boasts two storage sheds, perfect for all your outdoor equipment, alongside a dedicated garden area for cultivating your green thumb. Step inside to an elegant entryway, highlighted by a beautiful chandelier, which sets a sophisticated tone. To the left, a formal living room, complete with crown molding, seamlessly transitions into a formal dining room, ideal for entertaining. The kitchen is a culinary dream, featuring abundant cabinetry, granite countertops, a dedicated coffee bar, & a pantry for storage. Enjoy bright mornings in the morning room, bathed in natural light from numerous windows, with a patio door leading directly to the backyard oasis. A playground (conveys) & a recently added deck from 2022 offers the perfect setting for outdoor gatherings. The open-concept family room flows effortlessly from the kitchen, offering an expansive living space. An additional area, currently unified into the family room, could easily be re-established as a private office or playroom. The main floor also features a convenient half bath and a laundry room with a utility sink hookup. Upstairs, four generously sized bedrooms await. Two bedrooms include walk-in closets, with the primary bedroom boasting impressive double walk-in closets. Further enhancing this home's appeal is a full, partially finished basement, providing extensive additional living and storage possibilities. Recent updates include a new roof, sump pump and water heater installed within the last year, alongside a brand-new front door from 2024. This residence combines modern amenities with thoughtful design, creating an exceptional living experience.
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.
