Welcome to this beautifully updated Cape Cod home set on a private one-acre lot in a peaceful, wooded setting with no HOA. Offering more than 3,000 square feet of living space, this residence combines thoughtful 2022 updates with a flexible layout designed for comfortable everyday living. The main level features updated flooring, refreshed paint, and updated lighting throughout, creating a bright and inviting atmosphere. The open kitchen was renovated in 2022 with stainless appliances, including a WiFi-enabled oven, Silestone quartz countertops, a newer sink with Kohler faucet, a ceramic tile backsplash, updated cabinetry, and modern pendant lighting. Just off the kitchen, the spacious dining and living areas provide an ideal setting for gatherings and daily living. A dedicated laundry room with a WiFi-enabled washer and dryer adds convenience. Two primary suites are located on the main level, offering versatile living arrangements and ease of access. Upstairs, a generous loft area provides flexible space for a second living area, home office, or recreation room. Two additional bedrooms, including one with a large walk-in closet, and a full bath complete the upper level. The lower level expands the home’s functionality with a recreation room—complete with projector and screen that convey—and an additional bonus room that can be adapted to suit a variety of needs. A spacious two-car garage provides ample room for parking and storage. Additional features include dual-zone HVAC for year-round comfort, a whole-house water filtration system, and carpet replaced in 2020 and recently professionally cleaned. The property extends beyond the end of the road, offering additional space for parking, including room for multiple vehicles or recreational equipment. Located within the Lake Jackson area, residents have the option to purchase access to a private community boat ramp, providing convenient entry to the lake for boating and outdoor enjoyment. The road is maintained through county services, adding to the ease of ownership. This property offers a rare combination of space, updates, and a natural setting, all while remaining accessible to nearby amenities and commuter routes.
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.
