Don't miss the Cordera gem! This former Saddletree model home has so many upgrades! As soon as you walk in, you will notice the black-filled oak floors that run through most of the main level, leading to the iron staircase. There is a main-level bedroom which can also double as an office. You will love the custom built-in cabinets and all the natural light that floods in this room in the morning! You will be drawn into the large living room, complete with vaulted ceilings, accent beams, large windows, double-sided stone fireplace that extends to the covered patio outside. The kitchen is open to the living room, with a spacious 9X4 island, granite countertops, stainless steel appliances, gas stove, office area and large pantry. The dining room is connected to this space, along with a custom 10-foot double door slider that takes you to a spacious patio where you can enjoy the fully landscaped yard with mature trees. This level is perfect for hosting parties of all sizes, or gathering with family on a cozy evening! Upstairs, you will find a large Primary Suite, lots of windows, a roomy bath with a 42" double vanity, a custom mirror, leathered granite countertops, a walk-in shower complete with bench, a private toilet room, and a walk-in closet with ample space for storage. There are two additional bedrooms: a full bath, a 42"double vanity, quartz countertops, and custom tile. The laundry room rounds out this space, along with plenty of storage closets. In the basement, an iron railing will lead you down to a spacious family room with a large wet bar, granite counters, recessed lighting, a bedroom, another full bath complete with quartz counter tops and lots of room for storage. This home has two furnaces, A/C upstairs, surround sound in the basement, sprinklers, and a fully fenced-in yard, among other features. Situated in Cordera, you will have access to lots of walking trails, a clubhouse, a pool, and a lifestyle you will cherish!
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.
