This beautiful traditional Split Foyer demonstrates impressive pride of ownership. The owners have devoted considerable effort to reimagine the space, resulting in a stunning home. Upon entering through the foyer and ascending a few stairs, you’ll be welcomed by gorgeous hardwood oak floors that span the main level. The spacious living room boasts a large bay window, which floods the area with natural light, fostering a bright and cheerful atmosphere. Adjacent to the living room, the separate dining room offers a seamless transition into the kitchen, enhanced by a sliding door leading to the back patio and a peaceful backyard—ideal for entertaining after a long day or unwinding during a lovely fall afternoon. There's also ample space for adding a garage or sunroom if desired. The kitchen has been thoughtfully updated, showcasing brand-new appliances, stunning quartz countertops, a stylish backsplash, and elegant LVP flooring. With plenty of cabinet space, all your culinary essentials are easily accessible. The main level comprises three spacious bedrooms, each featuring generous closet space and upgraded windows at the back and sides. The main bedroom has a private, completely renovated bathroom with a beautiful shower, vanity, and chic ceramic tiles on the floor and in the shower. There's also a recently remodeled hallway bathroom with a tiled shower and a reglazed bathtub. In the lower level, a large family room awaits, along with a bedroom that includes ample closet space and new carpeting, complemented by handcrafted bookshelves that add a personal touch. A remodeled half bath offers additional convenience. You'll also find an updated washer and dryer, alongside space for storage or a work area. Situated on a quiet street, the property features a large, landscaped front yard that enhances curb appeal, along with a fenced backyard complete with a storage shed and mature oak trees that back onto a wooded area next to a large grassy space. Adding to the exceptional quality and value of this home, the roof was replaced in 2015, the furnace in 2012, the air conditioner in 2010, the water heater in 2021, the sump pump was replaced, and a drain trench was installed in the basement in 2016, the washer in 2023, and the dryer in 2016. This home offers a one-year home warranty to the new buyer and is sold “as is”. Home inspections are welcomed, but for the buyer’s information only. This remarkable home provides a perfect blend of comfort and style, inviting you to create cherished memories for years to come.
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.
