Fully renovated in Laurel Meadows! Welcome to this spacious home, that has been mindfully updated for your living pleasure. Enjoy the features of this home as you are greeted upon entry by a spacious and bright living room that can be as cozy as you want with its ambient gas logs. Enjoy hosting in your large dining room that features a bay window overlooking your private back yard. Both of these rooms feature newer Pergo waterproof engineered hardwood. The star of the downstairs show is your brand-new, eat-in kitchen featuring Luxury Vinyl Plank, new soft-close cabinets, new quartz countertops, new tile backsplash and new stainless stove, microwave, and dishwasher. Exit through your French doors to your private and peaceful screened in porch. Further enjoy your fenced in yard on the paver patio for grilling out or just relaxing. Bedrooms you may ask. Come upstairs to your newly carpeted bedrooms and fully renovated bathrooms. Your primary suite features 2 closets, and a custom-built tile shower, a brand-new stone top double vanity and a soaking tub for that ultimate escape from the stresses of life. Your other 3 bedrooms are more than sufficiently sized with a beautiful hall bathroom with its own custom tile. This home has it all. Other features include serene front porch, 2 car garage, large walk-up attic, upstairs laundry with conveying washer and dryer, a roof that is less than 5 years old, a clean, barriered crawl space. This home is minutes from major shopping and interstates and has great Hanover County schools. What's stopping you?? Professional pics coming soon.
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.
