Nestled in the serene enclave of Cartagena Highlands, this exquisite raised ranch home offers a harmonious blend of comfort and elegance, perfect for those seeking a tranquil lifestyle without sacrificing modern conveniences. Built in 2001, this meticulously maintained residence boasts 2,196 square feet of thoughtfully designed living space, featuring four spacious bedrooms and three full bathrooms, ideal for both relaxation and entertaining. As you step inside, you are greeted by a warm and inviting atmosphere, highlighted by a cozy gas fireplace that serves as the heart of the living area. The partially finished basement, complete with walkout stairs, provides endless possibilities for customization-whether you envision a home theater, a playroom, or a personal gym, the choice is yours. The exterior of the home is equally impressive, set on a generous 0.41-acre lot that offers ample space for outdoor activities and gardening. The attached two-car garage, with a front-entry design, ensures convenience and easy access, while the asphalt driveway provides a polished finish to the property's curb appeal. Cartagena Highlands is not just a neighborhood; it's a vibrant community that fosters connection and engagement. Residents enjoy the benefits of nearby parks, perfect for leisurely strolls, picnics, or weekend sports. The community is well-served by local amenities, including shopping centers, dining options, and recreational facilities, all within a short drive. The community's commitment to public services enhances the overall living experience, providing residents with peace of mind and a sense of security. Whether you're hosting gatherings in the spacious living areas or enjoying quiet evenings by the fireplace, this home offers a unique opportunity to embrace a lifestyle of comfort and community. With its blend of luxurious features and a welcoming neighborhood, this property is a true gem in Cartagena Highlands. Don't miss your chance to make this enchanting residence your own!
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.
