Whether you enjoy go-karting, ATVs, dirt bikes, hobby farming, car collecting, gardening, or simply having room to roam, this beautifully updated brick ranch on 6.28 fully fenced acres offers a lifestyle that is becoming increasingly difficult to find. With no subdivision restrictions, the property provides endless opportunities for recreation, animals, hobbies, equipment storage, and outdoor living while still being just 20 miles from downtown Indianapolis. The impressive 40' x 30' pole barn/shop is ideal for storing recreational vehicles, boats, campers, tractors, and equipment, featuring a concrete floor, 220V power, 30-amp RV hookup, workbench, shelving, and power overhead door. A second outbuilding offers nearly 2,000 square feet and is currently configured with horse stalls but could easily serve as a workshop, collector car storage facility, hobby space, home-based business, or equipment barn. Two additional three-sided sheds provide even more covered storage. The acreage is divided into fenced sections connected by wide 12-foot gates, making it easy to move vehicles and equipment throughout the property. Enjoy riding ATVs, dirt bikes, and go-karts on your own land, gardening, raising animals, or simply relaxing and enjoying the privacy and open space. Additional features include a wash bay with hot and cold water, insulated storage room, washer/dryer hookup, electric water heater, and 220V electrical service. Inside, the meticulously maintained ranch features custom Medallion soft-close kitchen cabinetry, hardwood flooring, solid wood doors, newer thermal windows, upgraded attic insulation, and a spacious 15' x 15' sunroom. Recent improvements include a new asphalt driveway (2023), Aqua Systems water softener, upgraded attic insulation, and new bedroom carpeting. Outdoor living is equally impressive with a 19' x 16' stained and sealed deck, professional landscaping, concrete front walkway, and a stunning stone wood-burning fireplace with a gas line.
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.
