Tucked away on a quiet double cul-de-sac within an exclusive 21-home community, this beautiful single-level home offers a rare blend of privacy, functionality, and elevated indoor-outdoor living. Featuring 4 bedrooms, 3 bathrooms, and an expansive living space, this property stands out from the moment you arrive. The curb appeal is undeniable, situated alongside a grassy space with no neighbors to the West, a paver driveway, custom wrought iron front door, and extensive exterior details welcome you with open arms. Inside, soaring 10-foot ceilings, no interior steps, and a spacious open layout create a home that feels both inviting and effortless. The kitchen anchors the home with a thoughtful balance of function and flow, featuring granite countertops, a sprawling island, gas cooktop, multiple ovens, and a walk-in pantry, all opening naturally to the main living space. Step outside to your own private backyard retreat. An extended covered patio with stone-wrapped columns leads to a fully built-out outdoor kitchen featuring a built-in Bull gas grill, refrigerator, and a wood-fired pizza oven imported from Portugal. The space is further enhanced by a private pool with water features, above-ground spa, low-voltage tree lighting, and built-in stereo system- creating an ideal setting for both entertaining and quiet evenings at home. Additional highlights include a three-panel sliding glass door in the primary suite, custom exterior sunshades, a pre-wired security system with dual keypads, and a freshly repainted exterior (2024). The insulated 3-car garage is so much more than a space for vehicles- it's ready to be an extension of your most enjoyed spaces in this home, and your private cave for creative projects. Enjoy the bonus of extensive built-in storage and work space, along with access to the backyard. Located in North Peoria with desirable north/south exposure, this home offers a rare opportunity to own in a limited, boutique community where homes are seldom available.
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.
