Claim your spot in the heart of the city with this authentic 1866 gem, perfectly positioned to enjoy everything downtown Winchester has to offer. Proudly displaying its Winchester Historic Building plaque, this home is just steps from the vibrant local dining scene, boutique shopping, parks, and schools. It’s a rare find that pairs 19th-century soul with modern reliability, featuring the coveted convenience of off-street parking in the rear, a one-year-old roof and a dual-zone climate system with two AC units and two Lennox furnaces. The main level is full of original character, anchored by beautiful hardwood floors. The kitchen serves as a functional and warm centerpiece, featuring granite counters, stainless appliances, and a stunning wall of original exposed log beams. Just off the kitchen, the formal dining room retains its classic charm with a decorative fireplace and original period details, while the rest of the floor opens into a large, versatile living room framed by custom built-in shelving and bathed in natural light. Daily functionality is prioritized at the rear of the home, where a spacious mudroom provides storage and a seamless transition to the newer rear deck and parking area. Tucked behind a clever sliding barn door is a private area housing the laundry facilities and a main-level half bath. The upper floors offer an impressive amount of flexible space, starting with a multi-functional loft on the second level. With two distinct areas and built-in storage, the layout is versatile enough to accommodate a home office, reading nook, playroom, or fitness space all on one dedicated level. This level also includes two generously-sized bedrooms and a large full bath featuring a soaking tub with a shower and tile surround. The third level has been beautifully transformed into an expansive primary suite. This sun-drenched getaway spans the entire top floor, offering a soaring, airy retreat with polished hardwood flooring, an abundance of natural light from numerous windows, and the ultimate privacy of its own en-suite bath. From the welcoming covered front porch to the rare off-street parking, this home offers the perfect balance of Winchester personality and highly adaptable living space.
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.
