*Multiple Offers Received! Best and final offers due by Tues, March 17th at noon!* Welcome to 1006 Surrey Drive in Somerdale! This charming home immediately greets you with pleasing curb appeal, highlighted by classic black shutters, low-maintenance landscaping, and a decorative front door that adds just the right touch of character. Step inside to a spacious foyer where rich hardwood flooring and elegant iron railings set a warm, inviting tone that complements the home’s neutral palette. Head up a level and enter a bright and spacious living room featuring a large front bay window that fills the space with beautiful natural light throughout the day. The generous layout easily accommodates plenty of seating, making it the perfect place to relax, gather with friends, or simply enjoy the sunshine streaming in. Just off the living room is the dining area, where the hardwood flooring continues and creates an ideal space for everyday meals or special occasions. An open pass-through to the kitchen keeps the layout feeling airy and connected, with space on both sides for bar stools—perfect for casual dining or morning coffee. The beautifully updated kitchen is sure to impress, featuring crisp white cabinetry, tile flooring, a stylish tile backsplash, stainless steel appliances, and gorgeous granite countertops. There is ample storage and prep space for cooking and entertaining, while a large window over the sink offers a pleasant view of the backyard. A convenient door leads directly from the kitchen to the deck, making outdoor dining, grilling, and summer gatherings effortless. Upstairs you’ll find three comfortable bedrooms and a full shared bath. The primary bedroom offers two closets for plenty of storage, and all of the bedrooms feature the same warm hardwood flooring that flows throughout the main living areas. The lower level offers an impressive amount of additional living space and versatility. A large family room provides the perfect setting for movie nights, game days, or simply relaxing. A fourth bedroom offers flexibility for guests, a home office, or additional living needs. There’s also a bonus room currently used as a playroom, along with a laundry room with extra storage and a convenient half bath. Step outside to enjoy the private backyard—an inviting space for relaxing, gardening, or hosting gatherings with family and friends. A spacious one-car garage adds even more convenience and storage. Beautifully maintained throughout, this home offers a wonderful blend of comfort, style, and functionality in a quiet, friendly neighborhood. With easy access to shopping, dining, parks, and major commuter routes, it provides the perfect balance of suburban charm and everyday convenience. Don’t miss the opportunity to make this wonderful property your next home! Open House on Sunday - March 15th; 1-3pm and a Facebook LIVE Virtual Tour after the Open House at 3:30 pm
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.
