Primary Bedroom on Main Level!!! Welcome to 7432 Ladd Rd, where comfort, functionality, and family living come together in one of Powell's most inviting neighborhoods. This thoughtfully designed home stands out immediately with a rare and highly desirable feature that sets it apart from others nearby: a spacious primary bedroom on the main level. This layout offers convenience, privacy, and long term livability that today's buyers are actively searching for. The main level creates an easy, natural flow for everyday life, making it ideal for busy families who want both accessibility and separation of space. Upstairs, you will find two generously sized bedrooms along with a large bonus room that offers incredible flexibility. Whether you need a fourth bedroom, playroom, media space, or home office, this area adapts to your lifestyle. Step outside and you will find a deck that is perfect for hosting weekend cookouts, enjoying quiet mornings, or simply unwinding after a long day. The backyard is level and spacious, giving kids and pets room to run, play, and create lasting memories. It is the kind of outdoor space that is getting harder to find and even harder to replicate. Located in a smaller neighborhood with sidewalks, this home offers a true sense of community. Evening walks, bike rides, and neighborly connections become part of your daily rhythm. You get the peace of a tucked away setting while still being conveniently located to everything Powell and Knoxville have to offer. If you have been searching for a home that checks the boxes for both function and lifestyle, this one delivers in a way that others simply can't.
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.
