**SELLER FOUND THEIR NEXT HOME** We are thrilled to announce a significant price reduction! Now listed at an incredible $730,000, this beautiful home is ready for its next lucky owner! The seller has found their dream home and is motivated to pass this gem on to someone new. Don't miss out on the opportunity to own this home at an incredible price! Discover the charming and well-established community of Heritage. This elegantly designed four-bedroom, three-bathroom residence invites you in through impressive double doors, leading you to a spacious foyer that sets the tone for the rest of the home. Step into the formal living room and adjacent dining room, where majestic pillars and soaring ceilings create an atmosphere of sophistication, accentuated by abundant windows that flood the space with natural light, enhanced by beautiful Plantation Shutters throughout. The heart of this home is the recently updated kitchen, seamlessly connected to a cozy family room featuring a warm fireplace—perfect for gatherings on chilly evenings. A well-appointed laundry room with direct access to the expansive three-car garage adds convenience to your daily routine. The french-doors in family room and sliding glass door in dining room both open to a simply landscaped backyard retreat, complete with a Rollup patio cover ideal for relaxing afternoons and entertaining. Venture upstairs to find four generously sized bedrooms, including a luxurious master suite that boasts vaulted ceilings, an en-suite bathroom, with roman tub and a spacious walk-in closet. Down the hall, three additional bedrooms that offer ceiling fans and share a well-designed double vanity bathroom featuring both a tub and shower, ensuring comfort for family and guests alike. This meticulously maintained home is ready for its next chapter, as the original owner is eager to pass the torch to a new family, creating lasting memories in this beautiful haven. **Seller to credit buyer for new microwave, carpet and garage door**
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.
