Explore modern comfort and versatility in this impressive 4-bedroom, 3-bathroom, 2-story home. Step inside and admire the ceramic tile flooring in the main areas, creating a stylish and durable foundation, with plush carpet flooring in the bedrooms for added comfort. The home boasts an open floor plan, with a separate dining room and an inviting eat-in kitchen featuring an island/breakfast bar, dishwasher, gas stove/range, microwave, refrigerator and solid countertops perfect for culinary enthusiasts. This home is equipped with solar panels and a solar electric system, providing energy efficiency and potential savings on utility costs. It also features an HVAC system with a programmable thermostat, allowing for customizable comfort and improved energy management year-round. Discover convenience on the main floor, where the primary bedroom and two additional bedrooms are located. The primary bedroom retreat features an ensuite bathroom complete with a garden tub, walk-in shower, double vanities and a spacious walk-in closet, offering luxury and convenience. The laundry room is located on the main floor. Entertain or relax upstairs in the dedicated media/movie room equipped with theatre seating and projector, along with an additional bedroom and the third bathroom, providing a private space for entertainment and guest accommodations. Outside, the backyard is a peaceful oasis with a screened-in covered patio, mature trees, a privacy fence and a storage shed, offering a serene outdoor retreat for gatherings and relaxation. Additionally, this home includes a 2-car garage for secure parking and storage. Enjoy a wealth of community amenities, including a Barbecue Area, Kiddie Pool, Near Shopping, Pavilion, Picnic Area, Playground, Pool, and a Splash Pad perfect for fun, relaxation and social gatherings. Don't miss the opportunity to make this impressive home your new sanctuary. *some marketing photos may be virtually staged images*"
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.
