Imagine a house that greets you the way a good neighbor would-easy smile, open arms, wraparound porch ready for slow mornings and long chats. This 1920 Folk Victorian has been around long enough to know a thing or two about community, yet every inch has been lovingly updated so life feels effortless the minute you walk through the 100-year-old oak front door. Inside, original wood floors creak in that nostalgic, story-filled way, while high ceilings and coffered details give the whole place a gentle kind of grandeur. The kitchen is the heart of the home, fully renovated with custom cabinetry, quartz counters, a gas range, and a coffee bar that's waiting for your favorite beans-and maybe a bottle of natural wine tucked into the fridge below. You'll find two living areas here, each with its own personality. The 2018 addition brings a modern twist with its gable-shaped ceiling, bamboo floors, built-ins, and remote-controlled shades for those "let's keep it cozy" weekends. And because good neighbors look out for you, all the heavy lifting is done: newer foundation by G.L. Hunt, standing seam metal roof (2020), full plumbing and electrical updates (2011), newer windows, spray-foam insulation, heat-pump HVAC (2020), tankless water heater, and water softener. Out back, the home opens up to a little sanctuary of its own-wide porch, fireplace patio, native landscaping, and mood lighting strung just right so the whole yard feels like an invitation to linger. There's even a 300 sq ft insulated workshop ready for your projects, passions, and "one day I'll get to that" ideas. And then there's the neighborhood. This house sits on one of the best blocks in Dignowity Hill, where front-porch waves still mean something and local gems are just a short stroll or bike ride away. Wildcraft General Store is your go-to for vintage finds and a great cup of coffee, and Con Huevos has the kind of breakfast tacos that make you want to put roots down. It's the sort of place that feels like home before you even unpack-so, won't you be its next neighbor?
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.
