Move right into this beautifully updated 3-bedroom townhome that's ready for you to call home! Fresh interior paint throughout and brand-new flooring on the entire upper level creates a bright, welcoming atmosphere from the moment you walk in. Best of all, there is no carpet anywhere in the home—hard-surface flooring throughout offers easy maintenance and a clean, modern look. The main level features a spacious family room that's perfect for relaxing or gathering with friends and family, along with a generously sized dining area that provides plenty of room for everyday meals or hosting holiday dinners. The updated kitchen is sure to impress with rich cherry cabinetry, granite countertops, stainless steel appliances, and ample workspace for cooking and entertaining. The refreshed bathrooms add to the home's modern appeal, making this home truly move-in ready. Upstairs, you'll find three comfortable bedrooms and an updated full bath. Be sure to pull down the attic stairs in the upper hall to discover the finished attic—a hidden bonus space. Enjoy outdoor living with a charming fenced front yard and an oversized, fully fenced, maintenance-free backyard that's ideal for entertaining, relaxing, gardening, or letting pets play. A huge storage shed provides exceptional storage for lawn equipment, bicycles, seasonal decorations, and more. Open parking adds to the home's everyday convenience. Conveniently located near shopping, restaurants, parks, commuter routes, and everyday conveniences, this beautifully maintained home offers the perfect combination of updates, functionality, and value. With fresh paint, new flooring, updated kitchen and baths, hard-surface flooring throughout, a finished attic, incredible outdoor space, and nothing left to do but move in; this is one you won't want to miss!
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.
