Nestled in the charming Seabrook Estates, this beautifully renovated split foyer home offers a perfect blend of modern luxury and timeless comfort. With a major renovation completed in 2020, every corner of this residence has been thoughtfully designed to create an inviting atmosphere that feels like home. Step inside to discover a spacious layout that boasts five generous bedrooms and two full bathrooms, providing ample space for relaxation and privacy. The heart of the home is the gourmet kitchen, featuring high-end stainless steel appliances, including a gas range and dishwasher, perfect for culinary enthusiasts. Rich hardwood flooring flows throughout the main living areas, enhancing the warmth and elegance of the space. Cozy up in the inviting living room, where a charming fireplace serves as a focal point, creating a perfect ambiance for cozy evenings. The primary suite offers a serene retreat, complete with a beautifully appointed bathroom that exudes luxury. Each additional bedroom is spacious and filled with natural light, providing a comfortable haven for rest and relaxation. The fully finished basement expands your living space, featuring an interior access point and a convenient outside entrance. This versatile area can serve as a recreation room, home office, or additional guest space, tailored to your lifestyle needs. With walkout stairs and a waterproofing system, this basement is both functional and worry-free. Outside, the property sits on a generous 0.3-acre lot, providing plenty of room for outdoor activities or gardening. The attached carport and driveway offer convenient parking options, ensuring ease of access. Located just a short distance from public transportation, this home combines suburban tranquility with urban accessibility. Experience the exclusive lifestyle that Seabrook Estates has to offer, where luxury meets comfort in a welcoming community. This residence is not just a house; it's a place to create lasting memories. Don't miss the opportunity to make it your own!
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.
