A MUST SEE! Welcome to 898 Scott Circle, a classic brick ranch in the highly desirable Decatur neighborhood of Medlock Park, zoned for Fernbank Elementary. This home has a comfortable, easy layout with a mix of original character and thoughtful updates throughout, giving it a warmth and authenticity that’s increasingly hard to find. The main living spaces feel inviting and practical, with good natural light and a layout that works well for everyday living. In addition to its three bedrooms and one bath, this home features a light-filled sunroom on a concrete slab which provides a great starting point for future expansion, including the potential to add on a second bathroom. In the meantime, it offers additional flexible bonus space ideal for a playroom, reading room, or secondary living area. Theres’s also a crawl space with a workbench, offering useful storage and a dedicated spot for projects. The fenced backyard offers privacy and room to spread out, whether you’re relaxing, entertaining, or just enjoying time outside. The location of this home is a true standout. Tucked in the heart of the neighborhood, steps from Medlock Park, you’ll have easy access to one of the area’s best outdoor amenities, including walking and biking trails, a newly built playground, open green space, and a community pool. It’s the kind of nearby resource that becomes part of your daily routine and adds real value to the way you live. Just minutes from Decatur Square, Emory, CDC, the new Lulah Hills development, and major commuter routes, this home offers both convenience and a neighborhood feel that keeps people here long-term. Homes in this area tend to move quickly, and it’s easy to see why.
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.
