DON'T MISS THIS RARE opportunity to assume an existing VA mortgage at an exceptionally low 2.75% interest rate for qualified buyers. Nestled in one of the area’s most sought-after neighborhoods, this spacious 3,200-square-foot Center Hall Colonial presents a rare opportunity to create the home you’ve always envisioned. A large driveway, with an additional 11’ wide side parking pad, leads to the two car garage. Set on a generously sized lot, the outdoor area offers abundant space for future expansion, and the addition of custom outdoor amenities. Rarely does a property offer the combination of privacy, and untapped potential in such a picturesque setting. The main level boasts a traditional floor plan with a 2 story entryway foyer, 9’ ceilings, expansive living room, formal dining room, spacious kitchen with abundant cabinet and counter space, and a large family room with a brick gas fireplace that is perfect for gathering with family and friends. A conveniently located powder room and a spacious laundry/mudroom with direct access to the garage completes the main level. Thoughtful room sizes and a functional layout provide endless opportunities to make this home your own. Large stunning Palladian windows provide an abundance of natural light that pours through every room, filling the interior with warmth and brightness. Sunlight streams throughout the day, creating an inviting atmosphere and enhancing the spacious feel of every room. The upper level also boasts 9’ ceilings, and is anchored by a spacious primary suite retreat, featuring a generously sized ensuite bath which has a large Jacuzzi tub equipped with an auxiliary electric heat boaster in the jet pipes, an expansive walk-in closet complete with a custom Closets-By-Design organization system, and a bright, sun-filled sitting area perfect for relaxing, reading, or creating a private workspace. Three additional well-proportioned bedrooms provide ample space for family and guests, each offering the Closets-By-Design large walk-in closet for exceptional storage and organization. The 2nd full bath is enhanced by a large skylight which provides bright, natural light. The expansive 1590-sqft unfinished basement offers a rare opportunity to create the space you have always envisioned. Complete with rough-in plumbing for a future bathroom, this versatile area provides abundant storage for today and endless possibilities for tomorrow; whether you dream of a recreation room, home theater, fitness studio, guest suite or additional living space tailored to your specific needs and style. This property is ideal for buyers looking to invest in a home with outstanding potential in an established neighborhood known for its strong property values and enduring appeal. Whether you’re envisioning thoughtful updates or a complete transformation, this home offers the opportunity to tailor every detail to your personal style and preferences. Bring your creativity, ideas, and vision—this is your chance to make a truly special home 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.
