This charming Cape Cod packs a big punch on the inside and out!!! It has been thoughtfully reconfigured and immaculately updated from roof to basement. Every square foot has been strategically utilized to maximize enjoyment and long-term love of home. Stop moving and start loving where you live!! When you arrive, you will be in awe of the curb appeal and notice the boastful 0.27-acre backyard which features two outbuildings for all your gadgets and gizmos or workshop space and plenty of open space for lawn games and toys. The driveway accommodates up to three vehicles, ensuring convenience for you and your guests. You'll already be in love with this home and you haven't even entered the inside!! Crossing the threshold, you will pleasantly find four spacious bedrooms and two full bathrooms, ensuring ample space for relaxation and privacy, along with Luxury Vinyl Plank (LVP) flooring throughout the main and first floors and upgraded plush carpeting in the fully-finished basement. The main level invites you to the Owner’s Suite, two bathrooms, living room and eat-in kitchen. The Owner's Suite is truly a place of serenity, complete with large windows providing immense natural light and sweeping views of the backyard, a large walk-in closet and a luxurious en-suite bathroom with glass-enclosed shower and double-sink vanity. Both the Owner’s Suite bathroom and the second bathroom have been designed with luxury in mind and include tiled floors, tiled tub/shower walls extending to the ceiling, and large vanities. At the heart of the home is the perfectly-sized living room/dining room combo to unwind after a long, hard day of work or a perfect space to host all the Instagram worthy gatherings. This lies just off the eat-in kitchen which is packed with brag-worthy stainless-steel appliances, quartz countertops and an eat-in bar top that triples as additional storage underneath and additional countertop to make meal prep and entertaining a breeze. Traveling upstairs to the second level, you will find two well-appointed bedrooms, one with a walk-in closet! There is also a flexible space to dedicate as a kid play area, homework lounge or even a home-office. Last, but certainly not least, venture downstairs to the fully-finished, walk-out basement to find the 4th large bedroom, the laundry/mud room and the extensive open area which offers versatility for entertaining, home gym, home office or whatever your heart may desire. This house is not just a home; it is where memories will be made!!
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.
