Once upon a time, at the end of a peaceful cul-de-sac, stood a grand Tuscany-style two-story home on a HUGE pie-shaped lot, surrounded by elegant block walls and glowing landscaping. The home shimmered beneath the California sun, powered by magical solar panels and sparkling energy-efficient windows that kept every room bright and cheerful. In the backyard, there was a kingdom of fun — soft green turf for playful puppies, a special dog run for adventures, and a wide concreted patio beneath an extended aluminum cover where two gentle outdoor fans twirled like fairy wings in the breeze. Every evening, the family gathered there to laugh under the stars. The home also featured a magical 3-car tandem garage so large it could hold the family’s sparkling cars, bicycles, scooters, and even enough space for secret weekend projects and treasure-filled adventures. Inside, the house felt warm and welcoming with its beautiful color scheme, open-concept design, laminate flooring, and sparkling granite counters beside white cabinets and stainless-steel appliances fit for a royal feast. On the first floor lived Grandma in her cozy bedroom beside a full bath, where she baked cinnamon treats for everyone. Upstairs was a magical loft that transformed each day — sometimes an office for important plans, sometimes a game room filled with laughter, and sometimes a gym where the kids pretended to train like Disney heroes. The three upstairs bedrooms were filled with dreams, but the most magical place of all was the primary suite. It had a soaking tub perfect for bubble castles, double sinks for morning races, a grand shower, and a huge walk-in closet that seemed endless, like a secret royal dressing chamber. Even chores felt enchanted thanks to the indoor laundry room that hummed cheerful tunes all day long. Best of all, the home sat near new shopping centers, schools, and parks, making every adventure just minutes away. Friends called it “The Castle at the Cul-de-Sac,” because no matter who visited, they always left smiling — believing that maybe, just maybe, magic truly lived there. And now, the next chapter is waiting… this is your opportunity to make this magical story yours. Don't miss out!
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.
