Narmada is a Sanskrit name meaning “the giver of pleasure” or “the one who soothes,” it also refers to one of India’s most sacred west-flowing rivers. The name perfectly encapsulates the not only pleasure of tasting the wine grown here, but also the scenic beauty of the setting. Narmada is a vineyard, winery, and family retreat. Award-winning wines are produced from the vineyards, the orchards, bear fruit in season, and the lush scenery provides a wonderful backdrop to enjoy the wines in the tasting room and picnic grounds outside the winery building. A large pond, and the stream that feeds it, provide a natural separation from the vineyards and winery to the estate home beyond. This private setting overlooks the vineyards in the distance on the other side of the pond creating wonderful views from everywhere in the house. The public/private nature of this property is finely balanced to provide the best of both worlds. However, this can easily be shifted to provide a high end country inn experience in the main house for an entirely commercial property. Or, conversely, the winery buildings can be converted into non-commercial use, to create a private estate centered on the manor house and the pastoral landscape. Whatever the end goal, Narmada is sure to give pleasure to its future owner. The main residence at Narmada a large and comfortable family home designed for both cozy relaxation and grand-scale entertaining. An elevator connects both floors. Kitchen facilities on both levels make it a perfect place for large family gatherings or parties. But the house can also become a quiet retreat with balconies and decks where one can read a book and admire the view. Upon entering the property you are greeted by vineyards to the right and an orchard to the left. Ahead is the Winery complex itself. A large building with a welcoming balcony and an inviting terrace and grounds overlooking the vineyards, it is the ideal place to enjoy a glass or two of the award-winning wines Narmada produces. The Winery building includes the expansive tasting room and production facilities. Separated by parking and landscaping are the more utilitarian features of the winery and vineyard operations. This includes two large barns and a barn apartment. The apartment is a quiet one bedroom unit that has been rented on a short-term basis. The barns are large enough to accomodate the largest of agricultural and vineyard equipment including tractors, sprayers and various attachments. Additional storage space for party and event equipment make these buildings an integral part of the hospitality side of the business as well. A separate room in the smaller barn provides a secure location for vineyard chemicals and sprays. Outside are fuel tanks for farm and vineyard equipment. The entire property is fenced and cross-fenced with deer fencing in the orchard and vineyard areas. Lush landscaping provides a picturesque backdrop for the beautiful vineyards. Open lawns and larger specimen trees create a park-like setting throughout. A small stream feeding into the pond forms a natural division between the main house grounds and the vineyards and winery. There are two main orchard areas. Towards the front of the property is an orchard of mixed fruit trees. Further back is a substantial peach orchard of nearly 30 mature peach trees. A large 3 acre pond, stocked with fish is below the house. A large pavillion on the water’s edge provides outdoor entertaining space. A deck at the pavillion also serves as a dock for swimming or boating. Vineyards cover nearly 20 acres of well tended vines in 9 different varietals. Deer fencing in all vineyards which consistently produce award-winning wines.
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.
