''Better than new,'' beautifully upgraded & updated home on spacious mature wooded lot in sought-after Legend Oaks. From the front foyer you are welcomed by the front library/office to the right, dining room left, and an inviting wide hall leading into the spacious main living area with its beautiful fireplace and custom mantel. That tasteful wide-plank downstairs floor is by Raintree(r) waterproof hardwood floors. You'll love the fully reimagined gourmet kitchen with its stunning quartz counters & waterfall design, farmhouse sink, abundant luxury cabinetry, newer stainless appliances and range hood! The adjacent informal dining space looks back toward patio, firepit, and wooded yard. Secluded downstairs to the rear right is a truly lovely Primary Bedroom with its special redesigned...en-suite bathroom with big custom shower and custom-designed walk-in closet. Two more BRs, another full bath, powder room, and improved laundry room complete the downstairs. And then there's the ample upstairs...with significant flex/loft/hobby spaces, plus a full private bedroom, bathroom, walk-in closet, and several additional eave storage spaces. Big value and efficiency positives include recent new roof & HVAC systems, efficient spray foam attic/roof insulation, tankless water heater, finished garage with storage, lawn irrigation system, and more. This is a home for all seasons, beautifully enhanced top to bottom in style, function, and efficiency by its current owners. Meticulously kept and wonderfully improved throughout, It is truly ready for the next discerning owners to embrace as home.
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.
