This rare, move in ready custom ranch offers exceptional space, quality craftsmanship, and long term value, truly a standout opportunity. This beautifully updated custom extra-wide raised ranch (1 of only 3 in EP) showcases exceptional style, space, and thoughtful upgrades throughout, featuring 1,452 sq ft of living space on the main level and an additional 1,400 sq ft in the fully finished basement. Set on a quiet street just minutes from some of the top high schools in the state, the home boasts a large front porch, new siding, fresh landscaping, a new concrete driveway (2017), and impressive curb appeal. Inside, an open and inviting floor plan is ideal for both everyday living and entertaining. The living and dining rooms flow seamlessly together with recessed lighting and luxury vinyl flooring that continues through the kitchen and hallways, all anchored by a stunning Lannon stone wood burning fireplace, fully tuckpointed and beautifully detailed, complete with a brand new flue and new chimney cap. The expanded kitchen showcases custom built cabinetry, gorgeous granite countertops, elegant tile work, exceptional storage, a dedicated butcher block for prep and gathering, and a spacious kitchen pantry for added organization. A Culligan reverse osmosis water filtration system provides purified drinking water at the sink. Bathrooms offer a spa like feel with upgraded tile work, glass shower doors, updated flooring, walls, and lighting. Closet space is truly abundant, featuring multiple walk in closets throughout the home, with most closets offering a minimum depth of three feet for generous storage and functionality. The large bedrooms include brand new plush carpeting with extra thick padding, creating warmth and comfort. The fully finished basement nearly doubles the living space and is perfect for entertaining, featuring luxury vinyl flooring throughout, all new lighting, a remodeled bathroom with a six foot shower, a wet bar, and a second impressive wood burning fireplace with a brand new flue. A spacious basement bedroom includes a completely redesigned custom walk in closet. The entire home has been freshly painted, with most updates completed within the last two years. Major system upgrades include full exterior foam insulation (USA Installations), attic insulation brought to grade, professional basement waterproofing (USA Waterproofing), overhead sewers, underground PVC drainage directing gutter water away from the home, and a Garrison UVC air purification germicidal lamp oxidizing system integrated into the furnace. The furnace, water heater, and air conditioning were newly installed in 2022 and remain under warranty, along with a Nest thermostat. The private, fenced backyard features a newly poured oversized concrete patio and custom walkway, perfect for relaxing or entertaining. The garage offers new epoxy flooring, an industrial heater, an insulated garage door, and a new garage door installed in 2017, allowing it to function as a gym, workshop, or one car garage. Additional highlights include high energy efficient windows installed in 2020 by Felco, security and screen doors by Evergreen Park Windows and Doors, newer appliances, and a Ring camera system covering the front door and perimeter that will remain with the home. This exceptional property combines craftsmanship, efficiency, and thoughtful design, an extraordinary opportunity in a highly desirable location. Come see your new home 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.
