Enjoy the space and comfort of a single-family home at a townhouse price in this beautifully maintained 4-bedroom, 3-full-bath home offering nearly 2,000 square feet of living space, tucked away on a quiet dead-end street. Pride of ownership shines throughout, with numerous updates completed over the years. Major improvements include a new roof (2021), new HVAC system (2020), and a stunning kitchen renovation (2019) featuring upgraded cabinetry, granite countertops, stainless steel appliances, and a convenient breakfast bar. The spacious deck, rebuilt in 2017 with low-maintenance composite decking and vinyl railings, provides the perfect outdoor retreat. All three full bathrooms have been tastefully updated with modern vanities, lighting, and fixtures. Additional upgrades include new flooring, light fixtures, and door hardware throughout the home. Beautiful gleaming hardwood floors add warmth and character to the main living areas. Two wood-burning fireplaces create inviting spaces for cozy evenings while helping reduce winter heating costs. The lower level offers exceptional flexibility with a fourth bedroom and third full bath—ideal for guests, an in-law suite, or a private home office. The family room walks out to a covered patio, extending your living space outdoors. The spacious primary suite is quietly situated at the rear of the home and overlooks lush greenery, creating a peaceful retreat. Truly move-in ready, this home is simply waiting for its next owners to move in and enjoy. Conveniently located in a desirable neighborhood with highly regarded schools.
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.
