Very well maintained home on almost 1.5 private acres with NO HOA. Many upgrades on this one including metal roof with extended 12' deck coverage, stocked pond, aerobic septic system, tankless water heater and HVAC (2022), vinyl plank throughout -no carpet, newer kitchen appliances, and an abundant amount of storage rarely found! Beautiful kitchen equipped with large island adds storage, work and dining space and is the perfect spot to host family and friends. Spacious living room with gorgeous built ins for style and function. Large primary retreat with ensuite boasting dual vanities and sinks, dual walk in closets, soaking tub and separate shower. Split bedroom floor plan with secondary bedroom on opposite end of home with close access to additional full bath. What was originally a third small bedroom has been transformed into a huge storage space with shelving and plenty of room to house a desk for cozy home office. Another portion of this revitalized space constructed to make a giant walk thru pantry. An additional custom touch on this home is the cedar trim installed throughout the entire home adding beauty to every room and matching the cedar ceiling on outside deck. Enjoy the 12X40 covered deck overlooking the backyard, stocked pond and gazebo. Additional covered area with gravel and pavers provides a great place for equipment, workspace or place to play in the shade. Two separate gated entrances to the back portion of the property allow freedom to access the land as needed with no disruptions. Lovely gazebo situated between the home and pond is the perfect spot for outdoor living! Property is completely fenced and very private. Storm shelter on site is an added safety feature. Two car carport and private driveway. Plenty of room for additional parking and take your pick on an area to build a workshop. Rare opportunity to own a special property in great location and still be within just a few minutes of schools, hospitals, shopping, dining, etc TOUR IT TODAY!
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.
