***Seller Offering $5,000 in Concessions to be applied towards Buyer's Assistance*** Recent home upgrades bring exceptional value for any new buyer. Improvements include fully replaced HVAC system, xeriscape landscaping, updated appliances, new windows installed in approximately half the home & refreshed lighting. After 17 wonderful years, our family of five is saying goodbye to a home that has been the heartbeat of so many of our most cherished memories. This isn't just a house, it's where birthdays were celebrated, holidays were filled with laughter, and quiet evenings together turned into stories we'll tell for a lifetime. One of the greatest blessings of living here has been being just three homes away from Our Lady of Lourdes Catholic Church. It has been more than a church for our neighborhood. It's been a gathering place, a support system, and a cornerstone of our community life. The home itself has given us everything we've needed and more. The open family room, dining and kitchen space always created a central hub to enjoy time together. With 3 bedrooms upstairs and the potential to add 2 more in the walkout basement, there has always been space to grow. The basement has been the perfect retreat for creativity - whether that's a business idea, a hobby, or plenty of extra space for storage. Outside, this property has been an oasis. We've loved watching the kids bounce on the trampoline from our deck, gathering under the gazebo on summer evenings, practicing on the putting green, and enjoying the privacy of the fully fenced yard. The two sheds have stored all our treasures, and the driveway has welcomed family, friends, and even our RV with plenty of room to spare. It's bittersweet to move on, but we know it's time. We've outgrown this space, and new opportunities are calling. Still, we hope the next owners will feel the same joy, peace, and belonging here that we have felt for nearly two decades. This house has been our home and we can't wait to see it become someone else's.
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.
