SMART HOME located Greystone Hills Phase 1 in a gated neighborhood with a pool and clubhouse. With 4 bedrooms and 2.5 baths, this DR Horton Lantana MODEL home is one-story, concrete block that has an open concept floor plan, featuring a spacious kitchen overlooking large living and dining areas. Sliding glass doors lead to the covered lanai and the partially fenced back yard. Wainscot and wood lattice decorative woodwork throughout the house add visual appeal. Large windows throughout for natural light, upgraded ceramic tile floors, dark, solid wood cabinets throughout and granite in kitchen and baths. Kitchen has a large pantry, stainless door pulls on cabinets, stainless steel dishwasher, range, garbage disposal, microwave and fixtures and a kitchen island with breakfast bar large enough for 4 bar stools. Eat in kitchen accommodates a table for 8-10. Spacious foyer entryway at front door has space for a coat rack or table and leads to the 2 front bedrooms, a full bath, separate laundry room with shelving and garage access and a half bath conveniently located for guests. The 4th bedroom can also be used as an office/den and has a decorative brick wall. All bedrooms have large windows complete with window treatment. Primary bedroom is located at the back of the house and has 2 walk-in closets and an ensuite bathroom with dual sinks, separate soaking tub, granite countertop, wood cabinets and lots of storage. Upgrades in the primary bedroom include panel molding and lattice woodwork decorative trim. The SMART features include smart alarm, smart doorbell with camera and sensor, smart lock, smart thermostat and smart plug. Home includes a whole house AO Smith water filtration system with a water softener. The wider garage has room on the sides for storage or bikes and there is room to park an extended vehicle or have room for a workbench or hobby space. Driveway and street parking. This gated community is close to schools, restaurants, shopping, and medical. Easy access to Hwy 200 and Hwy 75.
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.
