Nestled in the Shenandoah Valley with Beautiful Mountain Views is this Spacious Ranch Home on 4.4+ Acres of Prime Real Estate. Plenty of Room to Plant a Large Garden next to the Fruit Trees and Grape Vines! Summary of Noteworthy Features that make this property stand out from the rest include a Paved Concrete Driveway, Attached Two Car Garage, Four Seasons Room, Fenced Backyard, Gourmet White Kitchen, Entertaining Rear Deck and Large Garden Patio. Full Basement with Tons of Space and Additional Living Area. Solar Panels and Solar House Generator System conveys to Purchaser! No HOA! DRIVEWAY: Fully Paved Concrete Driveway with Large Area in Front of Garage for washing vehicles, Extra Parking. GARAGE: Two-Bay Attached Garage with High Ceilings, and a Separate Storage/Workshop Room, Enclosed Breezeway to the Residence! KITCHEN: Beautiful White Gourmet Kitchen with a spacious dark wood Island with Seating. Upgraded Solid white Countertops! Upper Cabinets with Lighting, Attractive Backsplash, Sink with Garbage Disposal, Stainless and Black Appliances. Office Area too! FOUR SEASONS ROOM: Fully Finished with LOTS of Glass and Clear Mountain Views! Sliding Glass Doors that lead to either the Rear Deck or Garden Patio! Mini-Split Heat and AC! FAMILY ROOM: Spacious Family Room with Wood Flooring, Windows, and Access to Four Seasons Room and Breezeway. Ceiling Fans! REAR DECK: Composite Decking with Vinyl Railing GARDEN PATIO: Amazing Paver Patio that has a Built In Fire Pit and Seating with Mountain Views! Existing Hot Tub Conveys As-Is, Hot Tub Hook-up! Deck to Storage over Garage! SOLAR: Conveys to Purchaser! Full Scale Solar Panel System and Solar Power Storage Whole-House Generator! Seller notes Electric Bills typically Average $35-40/Monthly! System is less than 5 years old! PRIMARY BEDROOM: Oversized Room with multiple closets, Crown Molding, Half Bath BASEMENT: Fully Finished, Multiple Large Rooms for Recreation, Storage, or More Living Space. Second Full Bath with Walk-In Shower, Second Laundry Hookup (First hookup is on Main Level - Bathroom closet), Laundry Counter Space and Cabinetry, Mud Room with Slop Sink and Basement Walk-Out, Cedar Room for Clothing Storage, and Built-In Storage Cabinetry Hallway.\ BACKYARD: Fully Fenced Approx. 5 years ago, Ready for Pets! GARDEN/ORCHARD: Large Garden Area and small orchard of Fruit Trees!
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.
