Picture a well-kept suburban twin home that instantly feels both spacious and inviting. The covered front porch adds charm and gives you a comfortable spot to sit with morning coffee. The exterior has a clean look—with an extra deep driveway providing an abundance of off-street parking . Inside, the home stretches across three full stories, offering plenty of room to spread out. The main level has an open-concept layout, where a large living room flows into a bright dining area and a generously sized kitchen. The kitchen features lots of cabinet storage and newer stainless steel appliances. Additionally, you'll find a conveniently located laundry mud room and half bath. Upstairs on the second floor, you’ll find spacious bedrooms with ample closet space, along with a full bathroom. The top (third) floor feels like a retreat of its own—perfect for a primary suite, complete with a large bedroom and walk-in closet. Alternatively, it could serve as a quiet home office or guest suite tucked away from the rest of the house. The basement adds an entirely new layer of functionality to the home, turning it into a truly versatile living space. It spans the full footprint of the house, with high ceilings that keep it from feeling cramped and give it more of a finished, livable vibe rather than a typical storage-only area. The outdoor space is a standout feature. The backyard is deeper than expected, with room for a patio, grilling area, and even a small garden or fire pit setup. There’s enough space for entertaining in your sun room or many patio areas, without feeling cramped, and the layout gives a sense of privacy. At the rear of the house sits the detached garage aka “Eagles Nest”—a versatile bonus structure. Currently styled as a lounge with a TV and bar setup, also great as a workshop, a gaming space, or even a home gym. Separate from the main house, it offers a perfect escape for hobbies, gatherings, or just unwinding without interruption. Another major advantage of this home is its low property taxes, which add real long-term value and affordability, helping keep monthly costs more manageable without sacrificing space or features. Overall, this home offers a blend of suburban comfort with flexible living space—ideal for someone who wants room to grow, entertain, and enjoy both indoor and outdoor living.
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.
