BACK ON THE MARKET DUE TO NO FAULT OF THE SELLER! Buyer changed plans 2 days before closing. SEE LISTING DOCS for Home Inspection with recent corrections noted, Septic Inspection, WDI Inspection - all done and ready to close! Listed for under recently appraised value of $443,000. Welcome to this spacious 4BR, 3.5 BATH home nestled in the desirable Walthall Mill neighborhood that has been given new life with an amazing 1st floor ensuite! Offering nearly 2,500 square feet of living space, this original-owner home features two primary suites—one on each level—each with private en-suites and walk-in closets, making it ideal for families or multi-generational living. Enter though the front door into the foyer and view both the cozy living room and the large dining room that flow into the LARGE eat-in kitchen with granite countertops and an island with built-in storage. The primary en-suite is a LARGE space with tray ceiling and TWO walk-in closets. The primary bathroom features a LARGE soaking jetted tub, a LARGE tiled shower, and LARGE double vanity. Also on the first floor you'll find a half bath w/laundry room and a mud room that exits off the side porch. Going upstairs, you'll find the 2nd primary bedroom with an attached en-suite and walk-in closet, and on the other side there are two more bedrooms, both with walk-in closets, that will share a third full bath. The walk-up attic is entered through the front bedroom closet. Outside is detached 2-car garage with a walk-up storage room above. Check out these other upgrades: NEWER ROOF with 50-year shingles (2020), and lots of Solar Panels that feed into a 20KW whole-home backup battery system (2022). You won't have to worry about power outages since this system runs BOTH ON AND OFF THE GRID. The home has gutter guards and triple-pained windows. The post on the carport attached to the garage is WIRED FOR AN EV CHARGER. Original septic for 3BR home so there is a limited occupancy of 6 people. All area rugs and window treatments convey, snowblower conveys.
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.
