*ASSUMABLE VA LOAN FOR ANYONE (CAN BE A NON-VET) AT 2.75% INTEREST RATE* Ask agent for details! Welcome home to this beautifully maintained 4 bedroom, 2 full and 2 half bath split level, ideally situated on a quiet street in Terra Grande. From your quaint from porch, step inside and be greeted by hardwood floors leading you to a warm and inviting main level featuring a spacious front living room, formal dining area, and a large updated kitchen designed for both everyday living and entertaining. The gorgeous open kitchen offers abundant counter space, generous storage with soft close high end doors and drawers, granite countertops, and newer stainless steel appliances (to include a hood vent!). Just off the kitchen, the cozy sunken family room with a fireplace creates the perfect place to unwind, along with a conveniently located laundry area and half bath around the corner. From the family room, step out to the oversized deck overlooking the peaceful trees —a fantastic extension of the living space and the perfect spot for entertaining, relaxing, or enjoying a quiet morning with a book. Upstairs, the primary suite offers a peaceful retreat with a spacious walk-in closet and an updated en-suite bath featuring dual sinks and a spa shower. Three additional generous sized bedrooms and a full bathroom complete the upper level. The upgraded fully finished walk-out basement adds even more flexibility, featuring a new wet bar with fridge and bar sink, rec room, half bath, and ample storage space—ideal for guests, a home office, or flex space. Out back, the fully fenced yard is a standout feature, lush with greenery and play space. The community offers fantastic amenities including two playgrounds, basketball courts, tennis courts, and a nearby soccer field. Conveniently located just minutes from shopping, dining, and everyday essentials, with easy access to major commuter routes and nearby military installations.
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.
