Meet the Swiss Army knife of homes! Offering so many different living areas, you won't know where to go next. Starting with the interior as you walk in you are greeted with the perfect office with a double French door entry and plenty of natural light. The downstairs provides extensive ceramic tile throughout the entire living areas, including the foyer, family room, nook and kitchen. Speaking of the kitchen you'll love the granite counters along with the huge center island perfect for kitchen prep along with seating, Espresso cabinets, tile backsplash, pre wire for pendant lighting all complimented by a stainless steel appliance package. Adjacent to the kitchen is the nook where any size table will fit comfortably all overlooking the spacious family room. In addition, there is a bedroom and full bath downstairs for those who choose not to use the stairs. On the second floor you are greeted by the huge loft/bonus room/ media room with a tremendous amount of options. The master suite is super spacious in itself along with a walk in closet, master bath with double sink vanity and walk in shower. In addition, 3 big bedrooms, another full bath along with a walk in laundry room complete with shelving for additional storage. If you are counting, that is 5 true bedrooms, 3 full baths, the upstairs loft/bonus plus the office and another surprise, this home has a multipurpose garage with its own split AC unit ( not counted in the square footage ) that can be used as a game room, man cave/she shed ( as shown ) yet still has the garage door in place and can be used as a traditional garage as well. The hits keep on coming with the exterior features, starting with the screen enclosed covered area at the front door & the screen enclosed covered lanai as you step out the back door. Brick paver walkway leading to another covered sitting area perfect for lounging around a fire pit making smores and more. All this surrounded by a fully fenced backyard ona conservation homesite with no rear neighbors!
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.
