*Assumable VA Loan 2.25%.* Welcome to 970 Oak Tree Rd featuring a stunning pool and amazing property with scenic views. From the moment you step inside the welcoming foyer, you’ll appreciate the elegant engineered wood flooring and classic oak balusters. The formal dining room impresses with French doors, double crown molding, chair rail, and warm wood floors, while the library/office provides a quiet retreat with wall-to-wall carpeting overlooking the front porch. Gourmet kitchen featuring walk-in pantry, breakfast bar with built-in cabinetry, wall oven, microwave, five-burner gas range, French door refrigerator, and dishwasher. Bright morning room with a wall of windows and built-in bench overlooks the rear yard. Sunken family room with shadowbox molding, trayed ceiling with crown molding, and gas fireplace with a stone mantle and hearth. Additional main-level spaces include a convenient powder room, a butler’s pantry with sink, and a distinctive bar room showcasing cathedral ceilings, wood-paneled walls, and built-in shelves. Upstairs, the spacious master suite is a relaxing retreat complete with a walk-in closet and a luxurious master bath featuring a walk-in shower, jetted tub, and linen closet. Bedrooms two and three are connected by a Jack and Jill bathroom, while bedroom four, and bedroom five with an adjoining playroom provide ample space. A full hall bath (third on upper level) and a convenient laundry room with sink and countertops complete the upper level, which is easily accessible by two separate staircases. The lower level features impressive nine-foot ceilings and multiple spaces designed to fit your lifestyle. Recreation room is huge and bright. The home theater is equipped with built-in speakers, a projector and screen, and plush wall-to-wall carpeting for a true cinematic experience. A full bathroom with ceramic tile flooring and a stand-up shower adds convenience, and a walk-up staircase offers easy access to the backyard and pool. Numerous modern systems: tankless water heater and sump pump installed in 2021, a radon mitigation system, geothermal heating, and water neutralizer and softener. Outside, you’ll find a beautiful combination of brick and beaded vinyl siding, a circle driveway, and an oversized three-car garage. The front porch with composite decking overlooks a scenic vista/rural view. Flagstone sidewalk. Rear composite deck is perfect for entertaining. The fenced yard includes a private pool with diving board, a hot tub, and a poolside shed equipped with a refrigerator and sink. The property is served by a septic system with a sand mound. This exceptional home combines luxury, functionality, and timeless design—offering everything you need for comfortable living and memorable entertaining.
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.
