Established Country Charmer! Situated on 3.44 acres with a circle drive and rail fence, this homestead features a 36x54 barn with LED lighting, a 16x32 saltwater pool with waterfall, and an enclosed chicken house. This property offers a total of 2,223 sq ft of conditioned space. You are welcomed by a wrap-around front porch and concrete curbing outlining the flower beds — the perfect spot for morning coffee. Inside, the home features 3 bedrooms and 2 baths in a split floor plan with insulated walls throughout. The living room boasts acacia hardwood flooring, crown molding, and room for a gas fireplace. The spacious kitchen includes custom Knotty Alder cabinetry, granite countertops, a center island ideal for prep work, and newer stainless LG appliances including a double-oven gas range. The dining area comfortably accommodates seating for 8–10. The primary suite is cozy and private and includes a large bathroom with a separate shower, private water closet, and two walk-in closets. The laundry room includes cabinetry for extra storage, dedicated freezer space, and a laundry sink. Additional bedrooms offer comfortable accommodations with closets and carpeted floors. The 4th bedroom could serve as a mudroom or nursery and features a large walk-in closet. A portion of the backyard includes a sprinkler system for gardening, and the acreage is dotted with mature hardwoods and fruit trees — giving you the peaceful country setting you’ve been searching for.
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.
