Welcome to this stunning 4-sided brick estate nestled on 2.51 private acres, set back off the road with a paved driveway and classic brick mailbox. This beautifully maintained home offers 3 spacious bedrooms and 2.5 baths, with permanent stairs leading to an unfinished bonus room that could easily serve as a 4th bedroom, media room, or additional living space. From the inviting rocking chair front porch to the grand foyer entry, this home makes a statement. The main level features a formal dining room, a vaulted family room with a fireplace, and a bright sunroom overlooking the backyard oasis. The kitchen is well-appointed with granite countertops, a work island, new appliances, a separate breakfast area, and a laundry room complete with a sink and built-in cabinetry. The oversized primary suite is a true retreat with trey ceilings, a private sitting room, a separate makeup vanity area, and a massive ensuite bath featuring a soaking tub and a separate tiled shower. The secondary bedrooms are generously sized, offering plenty of space for family or guests. The hall bath adds character and charm with a beautiful clawfoot tub. Step outside to enjoy a covered vaulted back porch with a fireplace, two lounging decks, and a stunning saltwater in-ground pool perfect for entertaining. The fenced backyard includes a gated, paved circular driveway leading to multiple detached garages. Car enthusiasts and hobbyists will love the total of 7 garage spaces, including: 20x26 two-car garage, 24x36 three-car garage (a true dream workshop space), and 24x24 finished she-shed complete with HVAC and water. Additional features include an irrigation system, alarm system, water purification, and softener system, and a Bose surround sound system. This home truly has it all space, privacy, and endless possibilities.
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.
