Stunning single-level farmhouse set on nearly three acres in a peaceful, no-HOA setting. Thoughtfully designed for both comfort and efficiency, this home features an open-concept layout with a vaulted great room, fireplace flanked by built-in bookshelves, and a dedicated dining area. A private office and split-bedroom floor plan provide ideal functionality for everyday living. The kitchen is well-appointed for both daily use and entertaining, offering a large island, walk-in pantry, and ample cabinetry. Additional highlights include a spacious laundry room, oversized garage, and a covered back porch that seamlessly extends your living space outdoors, perfect for relaxing or hosting friends. The primary suite is generously sized and features separate vanities, a soaking tub, a walk-in shower, and a large walk-in closet designed for convenience and comfort. The property itself offers a rare blend of open and wooded land, creating a serene backdrop where deer and turkey are often seen from the back porch. Tucked away on a short, dead-end street with minimal traffic and located in the desirable Model school district, this home delivers an exceptional combination of space, privacy, and thoughtful design. The property itself offers a hard-to-find amount of space with a mix of open and wooded areas. Deer and turkey are often seen on the property, adding to the natural setting. Located in a well-maintained neighborhood without HOA restrictions and in the Model school district, this home offers a combination of layout, land, and location that is not easy to find. Assumable VA Loan at 4.75% interest rate!
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.
