MULTI-GENERATIONAL LIVING IN YOUR FUTURE? Live the lifestyle you've imagined in this EXCEPTIONAL 5 BEDROOM | 4 BATH BASEMENT HOME in the sought-after Glen Laurel community in Clayton, where golf, swim, & social amenities meet exceptional indoor-outdoor living. Designed for comfort, flexibility, & connection, this 5716 SF home is ideal for multi-generational living or anyone seeking an EPIC BASEMENT HOME with endless possibilities. A 3-story open floorplan includes a vaulted Main-Level Primary Retreat plus a Main-Level Guest Suite - perfect for blended households, guests, or private work-from-home needs. The Grande Great Room features a fireplace, built-ins, & wall of windows with wooded views, while the Chef's Kitchen impresses with its island, gas cooktop, stainless steel appliances & generous storage. A Formal Dining Room plus large Breakfast Nook create 2 separate Dining areas. Upstairs offers added versatility with a Loft & built-in desks, 2 Bedrooms, Jack & Jill Bath, & very spacious Bonus Room. The EPIC Basement delivers unmatched flexibility with a Bedroom, Bath, Gym, Rec Room, Bar/Mini Kitchen, Home Theater, Playroom, & a cozy Family Room with fireplace--ideal as separate living quarters (in-law suite), teen space, or next-level entertaining. Outdoor living is spectacular with a Screened Porch, Deck, multiple Patios, and a Firepit, offering year-round enjoyment for every generation. Phenomenal opportunity for versatile living & the lifestyle you desire in Clayton!
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.
