Custom Home with tons of extras only 2 Years Old: All Brick home on .36 Acre lot. Enjoy morning coffee on the 18' front porch. Enter the home into an open floor plan with No Wasted Space. Double Window in the Great Rm makes it light & bright, room for the biggest Flat Screen TV & large family gatherings. Kitchen features 13 Solid Wood Cabinets + 2 Corner Lazy Susans, 4 Drawers, Gorgeous granite counters & 8'6" Bar open to the great rm. Deluxe stainless steel appliances makes cooking a pleasure. Dining or office area has a double closet or pantry & french back door for easy access to an oversized Patio. Private Main Bedroom can accommodate large furniture and has: two windows, ceiling fan & a large walk in closet. Main Bath has a custom tile shower, high vanity with solid surface vanity & a linen closet. On the other size of the home are 2 good size bedrooms with large closets & ceiling fans, a linen closet & large 2nd bath room with a tub/shower combo & storage over the toilet. Large inside laundry with shelf plus the wash & dryer are included or stay with the home. Storage isn't an issue with the 1 car garage & attic storage. Street parking isn't necessary with the double wide driveway. 15' & 23' side yards allow easy access to the HUGE BACK YARD. Half is wooded enduring privacy and a great play area for the children. Fast Gun is in the back of the subdivision with very little traffic allowing children to be safe. Low Maintenance Home, cheap insurance, quiet area + Seller will help with the buyer's closing cost or the VA loan is assumable to a vet that can release eligibility & liability. Milton offers: Community center with activities, BMX Track, Skate Park, 11 mile heritage walking trail, playgrounds, boat ramps, dog park and soooo much more. Lots of good info in the Document section including the floor plan & survey. Call to see this home now.
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.
