Assumable Loan Available! Lender Credit Available! Why wait for a new build when you can move right into this already built move-in ready home? Welcome to this five bedroom home located in Conway’s Astoria Park! This home has everything that you’re looking for. As you enter the home, the formal dining room greets you adorned with a charming cauffered ceiling, perfectly setting the ambiance for dinners and entertaining guests. The living room, featuring a tray ceiling and ceiling fan, invites relaxation and cozy gatherings. At the heart of this home is a chef’s paradise. The large kitchen features plenty of cabinets, work space, a tasteful tile backsplash, classic farmhouse style sink, equipped with stainless steel appliances, and a butler’s pantry providing ample storage. The kitchen island provides additional seating options, and a second dining area offers extra space for meals. The owner’s suite is conveniently located on the main level and features a tray ceiling and a ceiling fan. The en suite bathroom boasts double sinks, a stand-alone shower, a soothing garden tub, linen closet, separate water closet and a large walk-in closet. The home features LVP flooring throughout the main living areas and stair treads. A convenient half-bath completes the downstairs layout. The garage functions as lively game room, including upgraded flooring, a garage screen, ceiling fan, and AC mini split year-round enjoyment. Upstairs find four additional well-sized bedrooms, and a full bath, equipped with dual vanities and a tub-shower combo. Additionally upstairs there is a large walk-in attic storage area. The inviting backyard is complemented by a concrete patio perfect for year round BBQs, and a sizable shed for storing tools and other outdoor equipment. Astoria Park includes low HOA fees and its conveniently located —less than 10 miles—to the beautiful beaches and to historic downtown Conway. With easy access off Highway 90, enjoy the perfect balance of tranquility and accessibility. Schedule your private tour 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.
