You know you love the house, and now it's an even a better value! Compare to the same floor plan house, 8985 Wetbanks Ct 2 blocks away that sold for $720K this year. Check out the property video under the virtual link tour! Envision living in this well-loved exquisite 4 bedroom, 3 bath contemporary home that offers soaring ceilings, expansive living areas, an abundance of natural light peering through the oversized windows, beautiful curb appeal all tucked away on a peaceful cul-de-sac in one of the most sought after communities, for it’s schools, conveniences, green spaces, trails, and its central location to vast employment areas. Feel grand entering your main living area through your double doors and feel the open and airiness of it all. Freshly painted throughout with a neutral palette, paired with easily maintained flooring with a combination of engineered wide plank hardwood and luxury vinyl plank, and recessed lighting, your new home is ready for you to make your mark. The spacious living room seamlessly flows into the dining area, providing an ideal space for entertaining or everyday living. Adjacent, the updated kitchen boasts natural color cabinetry, gleaming granite countertops, and stainless-steel appliances. Your kitchen overlooks your beautiful and private fenced in yard and family room. Come upstairs to 3 bedrooms and 2 full baths all outfitted with custom modern doors. To your left, you’ll find your freshly renovated full hall bathroom, with new shower tile, niche, fixtures, and lighting. Continue down the hall to find your primary suite containing your private on-suite with double vanity, newly renovated bathroom fixtures, recessed lighting, tile and flooring. Your primary bedroom also features oversized windows, spacious custom closet system from Closet America, custom blinds, and newly installed ceiling fan. Additionally, on your upper level, you will find two other good sized bedrooms that overlook the private back yard through their oversized windows. Go down to the lower level to find your warm and inviting family room with your gorgeous gas fireplace with custom stone work and mantle piece and Thompson Creek Patio door. Come from the family in through your stylish French doors find your light filled fourth spacious bedroom. Other worthy mentions: Trane High Efficiency Dual Speed Gas Furnace 2020, Modern Interior and Closet doors 2020, 50 year Timberline Architectural Single Roof with Transferable Warranty 2020, R22 Insulation Foam and Cellulose in Primary Bedroom/Garage/Main Attic 2020. Power-up and upgrade electric panel 2017, Wood blinds 2016, Upgraded lamp post to electrical with photocell, installed new garage lantern, new electrical outlets at deck, garage corner, front door corner 2020, Split Rail Fence with wire mesh & double gates 2020. Acclaimed schools include Howard High School, Bonnie Branch Middle, and Phelps Luck ES.
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.
