This one story, NO HOA home is a nostalgic Vegas beauty. The newly landscaped front yard will lead you to a secured, gated entry. Once inside you are greeted with an open living room with a large slider and PLENTY of light. The open, and spacious kitchen features a beautiful wood paneled entry with a large bartop with PLENTY of room for seating and solid wood cabinetry. All upgraded appliances stay! The kitchen also features an oversized dining area with large windows and plantation shutters to let in all that natural light! Down the hallway you will find a wall full of storage. The spare bath features solid wood cabinetry, oversized medicine cabinet and countertop. Next to the spare bath is the secondary bedroom, could even be called two bedrooms! The front of this room opens up to a 27 foot long open space! Unheard of! Going into the primary bedroom you will find PLENTY of space with TWO ceiling fans! Great to beat this Vegas heat and save on electricity. The primary Ensuite bath is so large it could be considered another room! This bath will let your designing or upgrading imagination go wild! Either enjoy the current garden tub with separate shower or remodel to your heart's desire. The Ensuite also features a large walk-in-closet. From the newly upgraded landscaping, the upgraded appliances, original and solid cabinetry to the open, and spacious floor plan this home is not to be missed! Reach out today to schedule your private showing!
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.
