Welcome to this meticulously maintained, single-owner home offering an exceptional blend of space and comfort. Highlighting a convenient main-level bedroom and full bathroom, a brand-new HVAC system installed in 2023, and a truly oversized master bedroom with a dedicated sitting area, this property is designed for versatile living. Set on a generous 37,384-square-foot lot, the sale also includes an adjacent 24,829-square-foot parcel (Parcel ID: 05-0234C-00A-001), providing incredible outdoor space and potential.Step inside this expansive 3,001-square-foot, two-story home to discover an inviting open-concept layout. The massive living room, centered around a cozy gas fireplace, flows seamlessly into a stunning kitchen equipped with stainless steel appliances, granite countertops, a breakfast bar, and a walk-in pantry. Beautiful flooring runs throughout the main living areas, while the formal dining room impresses with coffered ceilings, custom molding, and bright bay windows.Upstairs, the luxurious master suite boasts elegant tray ceilings and a spa-like bathroom featuring a dual vanity, a separate tub and shower, and an oversized walk-in closet. The massive secondary bedrooms feature vaulted ceilings, ensuring comfort and space for all your needs. For modern convenience, every room is hardwired with Ethernet access, perfect for remote work or seamless streaming.Located in a quiet neighborhood with an active HOA, residents can also enjoy the community's stocked fishing lake. With its thoughtful design, attached two car garage, and exceptional layout, this residence perfectly accommodates first-time buyers, retirees, or anyone seeking a peaceful retreat with abundant land. Experience the quality, value, and lifestyle this Jonesboro gem has to offer.
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.
