Own a piece of history AND an enchanting stone house that dates back to 1798 – all within an easy walk of the train, schools, library and Post Office. And now at an even better price! Gorgeous wide plank floors, five fireplaces, extra deep windowsills and a garage that was once a stable are some of the delightful features you’ll discover inside this special home, known as “Hinkson’s Corner.” More than 200 years ago, James Hinkson, a wheelwright, erected two buildings side-by-side, one for himself and the second for a blacksmith. In later years, Hinkson’s Corner served as a general store, and at one point, a summer resort. Hinkson’s Corner has been tastefully updated by the current owners while preserving much of the charm of yesteryear, including a NEW roof, NEW windows, and convenient first floor Laundry. The main floor of the house features a Living Room, Dining Room, Kitchen with Butler’s Pantry and Laundry, an adorable Powder Room and brick-floored Mud Room just off the Kitchen. On the second floor, you will find four Bedrooms, including one currently used as a Library, and a second, currently used as an enormous Family Room. There is a very spacious full Bath on this floor too (complete with a fireplace!). But there’s more! An amazing third floor awaits you. There are two entrances to two separate third floors, which harkens back to the two original buildings built side-by-side. One third floor features two Bedrooms and a full Bath. The second third floor offers a Bedroom, Den space and a full Bath. This home is as enchanting on the outside as the inside with meandering brick paths, a “secret” gathering spot, and a simply gorgeous brick courtyard with a koi pond and black wrought iron gate. There is also a greenhouse. The yard is spacious and incredibly private – a feast for the eyes. There is driveway parking for 6 cars plus the garage. The house has been freshly painted inside and out and the sellers recently purchased a NEW furnace. 1 E. Brookhaven Road is located in award-winning Wallingford Swarthmore School District and is a short train ride to downtown Philadelphia and less than 20 minutes to the airport. Don’t miss this special home!
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.
