Attention all hunters, horse lovers, investors, farmers, hikers, snowmobilers, trail riders or any outdoor enthusiasts searching for a large hard to find piece of property... this is the one! This well-maintained country ranch home sits on 60 acres of hardwoods, evergreens and open ground and is now available for those seeking a peaceful and serene setting. The home features 3 bedrooms 1 bath, a breakfast nook entry area, unfinished full basement along with a heated full block 36x40 barn. Recent updates to the home include a steel roof, updated flooring and an outdoor wood boiler heating system. There is plenty of firewood to cut in the hardwood forest which holds beautiful marketable timber. The views on this property are amazing during all 4 seasons. The home sits on higher grounds looking into the valleys, fields and various woodlot islands dotting the landscape. Watch amazing sunrises, sunsets and the deer going from woodlot to woodlot all day long, especially during the morning while sipping coffee. The property has meandering trails through the hills, open grounds, various wood lots and larger hard wood forests. The layout of the land is absolutely perfect in all aspects for everyone who enjoys the outdoors. The property must be seen and explored in person to fully appreciate all that it has to offer. While very private, it is in a convenient location with a wide amount of frontage on a big portion of Campbell rd. and within 1/4 mile of the Garfield township hall and fire department, township park and disc golf course. Great location to travel from and explore places such as Kalkaska, South Boardman, Fife Lake, Lake City and nearby access to the Manistee River for a day of fishing or kayaking. The proximity to these popular locations would also have great potential for short term rental income opportunities as well as possible land splits(buyer to verify). This property is well suited for one's primary home or that Northern Michigan vacation retreat.
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.
