Welcome to this beautifully maintained,3/2.5/2 home in the sought after Estonia neighborhood! Here you will find the perfect blend of comfort, functionality and style. You have an open concept layout that is full of natural light and spacious living areas, with high ceilings throughout. Your kitchen is designed for everyday living and entertaining with stainless steel appliances, gas cooking, gorgeous granite counters with tiled backsplash. You will love the convenience of the island with breakfast bar. You have a breakfast area with a separate dining room here. The generously sized master bedroom features a sitting/nursery space. The master bath has been fully remodeled with double vanity, separate shower and garden tub and is ready to be your own private retreat. Your walk in closet gives plenty of room. The secondary bedrooms offer flexibility for kids, guests or office needs. You have a second living space or game room for additional flexibility. Some features that have been done recently: main bathroom remodel, new sinks, faucets and lighting, water softener in 2023, hvac replaced in 2024, water heater replaced in 2024, new laminate flooring. The back yard offers lots of room, a covered patio and is ready for those back yard BBQ's with family and friends! It is conveniently located near shopping, dining and entertainment, major highways and is move in ready! This is a home you don't want to miss.
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.
