***Coming to market 4/1/26***. Welcome to 7 Honey Locust Court! This wonderful split level home is ready for its new owners. This home showcases pride and care of ownership. With 4 bedrooms, 2 full baths and 1 half bath, there is plenty of space for everyone! As you enter the home the new LVP flooring on the main floor is gleaming, and the open floor plan is stunning. The kitchen with its stainless steel appliances and granite counters is the chefs kiss! The bonus room on the main level is perfect for a formal dining room or a great place for homework. The upper level showcases the primary bedroom complete with a full bath, as well as 2 other nice sized bedrooms and another full bath. The lower level has the 4th bedroom and a smaller multifunctional area that can be used as a playroom or other gathering area. There is also a half bath on the lower level for convenience. Outside, there is a spacious deck perfect for relaxing in the coming summer weather, and a large fenced in back yard. This home showcases some amazing updates including a new HVAC with electric air filter(2022), new LVP flooring (2026), new water heater (2024), new sump pump (2024), and new roof (2020ish). In addition, this home sits at the end of a quiet cul-de-sac, and has a lot that is larger than others in the community! All thats left to do is to move right in! Come see this gorgeous home before it's gone!!
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.
