Motivated Seller! Are you looking for a true hidden gem? Where Eagles soar and deer wander naturally? And you can have your boat in the water in 10 minutes too! If privacy is important and what you are seeking look no further. With no HOA, backing to state forest lands, close to Everything there is room to do what you want on a beautiful lot with 2.76 acres. Hunting , hiking, bird watching and more right from your own back yard! This secluded Salt Box in Spring Hill Estates offers loads of character. Featuring a stunning large conservatory with cathedral ceilings and pella windows, chair rail, wood, tile and lvl flooring throughout this home and tons of natural light. French Doors lead to a brick patio, perfect for entertaining and enjoying the abundance of nature and wildlife. Stunning granite counter tops, as well as a granite island, a bay window, hardwood flooring and gas cooking highlight the kitchen. Hardwood continues into the living room where a bricked fireplace hearth with wood stove offer warmth comfort on those cold winter nights. Two bedrooms (which could easily be utilized as a den/office), full bath, as well as a 25 X 12 workshop are all on the first level.! The second level offers 2 additional spacious bedrooms, both with ceiling fans and large closets, as well as a full bath. The full basement includes bilko walk-out doors, a large air compressor, propane gas heater and propane water heater and another heat source, a Rice coal Stove. Also included is the Whole House propane Generator. There is also a large Chicken coop/shed. The nicely landscaped fenced back yard is a nature lovers paradise and gardener's dream. A large pole barn with electric and a work area add to the many features of this amazing property. If you are looking for a quiet, private, off the beaten path home this is it!
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.
