Located on 10.4 Acres of serenity, this peaceful setting will draw you in to take a closer look- With 2 Homes homes, you have some wonderful options for your housing needs! As you enter down the long, driveway you will be drawn by how quiet it is in "this neck of the woods". You will drive past the workshop which also features a chicken coop* You will note an area for RV parking too, as you pull down to the homes overlooking Mud Creek, where you can stroll down and enjoy all nature has to offer* The first home you come to is the "Guest House" - Which has a Living Room area with an Open Island Kitchen Design with beautiful cabinetry and countertops* There are 2 Bedrooms here, and a Full Bath* Additionally, there is a wraparound Sunroom style porch with heating and cooling that steps you out to the deck to take in the scenery of the Creek and the beautiful woods* To your right is the "Main Home", with continuing the Southwestern Styled Design Theme* You enter into a Living Room with a cozy fireplace that has an open Dining Area* This leads you to the Kitchen with has a Breakfast Bar/ a large pantry and plenty of cabinets as well as a Breakfast Area* Strolling down the spacious Primary Bedroom there are 2 closets and a great Primary Bathroom with a large jetted style tub and an oversized shower with 2 shower heads, all custom in design* Don't forget, you have 2 more Bedrooms and a 2nd Full Bath* At the end of your day, you will likely want to step outside to the Entertainment Area where you can relax and soak in what the day, or night has to offer* Metal roof for ease of maintenance, county water connected for convenience, and an endless amount of possibilities await you at this getaway from it all place* Make sure you see it right away! Quoted Square footage is the sum of both homes, according to tax records reflect 2196 square feet for the Main Home and 2115 for the Guest Home* This home does offer an assumable 2.25% rate VA Loan* Call for more details
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.
