FRESH PAINT, NEW CARPET, AND A $5,000 SELLER CONCESSION! This home is a stunner. As soon as you enter, you're greeted by a large open concept living area with warm, light lvp flooring that flows from the cozy living room into an expansive kitchen and dining area with beautiful LEATHER-FINISH GRANITE countertops, a gas stove, a new dishwasher and microwave, and a new large stainless steel, single-bowl sink to hold all your hosting dishes from your house-warming party. A PRIVATE owner's suite is found tucked away at the back of the home on the first floor with a walk-in closet. The laundry room has CUSTOM BUILT-IN SHELVING perfect for storage and folding laundry and looks out onto the back porch leading to a FENCED-IN BACKYARD and a detached garage with BUILT-IN SHELVING and a massive work bench for all your DIY projects. At the top of the stairs you'll find BUILT-IN BOOKSHELVES, perfect for a reading nook just steps away from a cozy HOME OFFICE. The two upstairs bedrooms have ample closet space and conveniently share a full jack-and-jill bathroom. Aside from living in this beautiful home, you'll also be living in the beautiful neighborhood of Wendell Falls. You're always a short walk from a park, a trail, the community pool, or a neighbor who has the sugar you forgot at Publix (the Publix you don't even have to leave the neighborhood for). Treelight Square has everything you could hope for and more. It's perfect for spending an warm summer evening having drinks and chatting with friends at Falls Local or Sonder Coffee. At your new home, you're 20 minutes from downtown Raleigh and just 8 minutes from downtown Wendell. Schedule a showing today to make your dream home a reality! $2,500 credit with use of preferred lender, Ben McElroy with Certainty Home Lending.
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.
