"ASSUMABLE LOAN AVAILABLE"!!! Welcome to this beautifully maintained and much-loved ranch style home in desirable Meadow Ridge at Briargate. True Main Level Living! NO HOA! 2 Laundry areas! Home is handicap friendly, with oversized doors and walk-in shower with handrails in master bathroom. A versatile front bedroom/office with wood flooring and ceiling fan (no closet) provides the perfect work-from-home space, or guest bedroom. Main bath has tub/shower with slip resistant finish with tile surround, slip resistant vinyl flooring and medicine cabinet. The main level has secondary bedroom with wood floors, ceiling fan/light combo, large closet. Family room has gas insert fireplace with remote control. Dining area flows into the kitchen and had and a new slider in 2019 (blinds inset). Kitchen has new backsplash, great storage and counter space, a large pantry and sliding door to private courtyard. Primary bed has wood floors, ceiling fan/light combo and large closet. Primary bathroom has large closet for washer & dryer, a walk-in shower with handrails (handicap friendly), and a tall single vanity with medicine cabinet. Basement has carpet flooring in bedroom or could be used as a recreation space, another laundry area, and storage space under the stairs, a ceiling fan/light, and a bathroom with a tub/shower, single vanity, and linen closet. There are 2 crawl spaces finished with vapor barrier, lights and give lots of extra storage. Exterior of the home is ready for you to make your dream oasis, has a hard standing for extra parking/trailer space*home has whole house humidifier & A/C*newer gas fireplace*xeriscaped front yard*Ecobee thermostat*NEW roof 7/2024*handicapped friendly features*washer and dryer 2 years old*new backsplash in kitchen*new slider to deck in 2019, blinds inset*deck sanded, refinished 6/2025*new ceiling fan 3/2025*garbage disposal 3/4 years old*NEW garage door 10/2024*furnace serviced 10/2024
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.
