Beautifully maintained custom home on 1.94 private acres located in La Plata, just one mile west of the town center—offering a rare combination of privacy, space, and convenience with approximately 4,300+ square feet of finished living space, including a fully finished basement. Built in 2008, this impressive residence features an open, light-filled layout with hardwood flooring throughout the main level, a dramatic cathedral-ceiling living room, and a striking floor-to-ceiling gas fireplace. The spacious eat-in kitchen is ideal for everyday living and entertaining, complete with a breakfast bar, bay window, computer nook, and generous table space, plus a separate formal dining room. The main-level primary suite provides a private retreat with a bay window, spa-like en-suite bath with double vanities, glass-enclosed shower, and jacuzzi tub, and a professionally designed custom closet installed in 2021. A second main-level bedroom with a large walk-in closet and a full hall bath adds flexibility and convenience. The finished basement offers a large recreation/family room, an additional bedroom, full bath, and extensive storage—perfect for guests, hobbies, or multi-generational living. Outdoor living shines with a private in-ground pool (liner replaced 2023), spacious patio, fully fenced backyard with double gate access, and beautifully landscaped grounds designed for seasonal color, plus a horseshoe pit for added enjoyment. Car enthusiasts will appreciate the 3-car garage and additional carport, including a gas heater hookup in the double bay. Additional highlights include a heat pump with 500-gallon in-ground propane backup, interior and exterior security system with driveway alarm, large storage areas throughout, a regularly maintained asphalt driveway, 6-inch gutters with guards, and a roof-mounted solar system for enhanced efficiency. Major updates completed in 2020 include New Roof, New HVAC system (inside and out), New hot water heater, microwave, and pool pump, with the dishwasher replaced in 2024. No HOA, No front foot fees and no school excise tax! This exceptional property offers the perfect blend of indoor comfort and outdoor enjoyment—all in a convenient La Plata location.
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.
