Welcome to this beautifully updated 5 bed, 4 bath home in O’Fallon, offering over 2,400 sq. ft. of living space with an open-concept layout and modern finishes throughout. Fresh interior paint and newly installed partial hardwood flooring on the main level create a warm, cohesive feel from the moment you step inside. The living room features a cozy gas fireplace, adding comfort and charm to the heart of the home. The kitchen has been transformed with new appliances, new cabinets, quartz countertops, a stylish new backsplash, upgraded track lighting, an eat-in dining area, a bay window, and a convenient pantry that enhances both storage and functionality. From the kitchen, step out to a privately fenced backyard featuring a 6-foot vinyl privacy fence and a beautiful patio, perfect for outdoor dining and relaxation. A versatile flex room/office/bonus room on the main floor provides valuable additional space for work or hobbies. This level also includes a nice laundry room and a mud room, adding everyday convenience and organization. The large finished basement expands your living options with a spacious family room, a nicely sized bedroom, and a full bath—ideal for guests, multigenerational living, or recreation. An additional unfinished room offers excellent space for workouts, storage, or future customization. Upstairs, the primary suite offers a true retreat with a jetted tub, separate shower, and double vanity. Three additional large bedrooms and another full bath complete the upper level, providing comfort and flexibility for larger households. Additional updates include new blinds throughout, enhancing privacy and style. Major improvements add tremendous value and peace of mind: a new 30-year transferable roof installed in 2025, new HVAC and water heater in 2023, new siding on the back and sides, and a water softener for added comfort and efficiency. HOA includes a beautiful Pool, Pool House and a city Park for lots of family fun. Located in a desirable O’Fallon community with shopping just minutes away, this home blends thoughtful updates, generous space, and true move-in readiness—an exceptional opportunity for today’s buyers.
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.
