Tranquil and Peaceful Wooded Setting in Greencastle Greens- Let me start with describing the chance to have your own wooded backdrop, paths to walk in the woods, a deck & a patio to sit out & enjoy your mornings & evenings. A beautiful fenced in-ground pool with cabana for quiet times or entertaining times. This beautiful custom-built 5BR/4.5BA with close to 4400 finished SF home located on a cul de sac in Greencastle Greens. Walking into the foyer, you will find a room for everyone in this home with abundant windows & beautiful views. Starting with the main floor, a cozy office w/built-in bookcases, large dining rm, kitchen w/stainless steel appliances, breakfast nook, family rm w/gas fireplace w/french doors to the deck. Also located on the main level is a primary suite plus main level laundry area. The upper level has three generous-sized bedrooms w/hall bath & a huge second primary suite. Main & upper level w/hardwood floors throughout. The lower level which could be used as an in-law suite or great entertaining space w/small kitchenette, full bath, large living area w/french doors leads to the brick patio & pool area. In addition, you have the utility rm, storage area, plus an additional laundry hook up & hallway to the oversized two-car garage. Exterior with electric dog fence to keep your puppies at home. This home has been well-maintained with only one owner. Plan your visit today to see your next home site in the Greens!
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.
