Don't miss this opportunity! This home qualifies for special financing for qualified buyers - less than $22,000 to purchase, under $3,800 monthly payment! Welcome to 101 E Phil Ellena Street — where sleek design meets cozy living, and every detail invites you to stay a little longer. This stunning 4-bedroom, 3-bath detached dream home isn’t just a place to live—it’s a place to love (especially when you factor in the remaining TAX ABATEMENT). With driveway parking, a sprawling backyard, and a rooftop deck that feels like a treehouse retreat in the sky, this home is a rare find in the heart of Mt. Airy. Step inside, and you’re greeted by sunlight streaming through oversized windows, bouncing off the light hardwood floors and filling the open main level with warmth and energy. The vibe is fresh and modern, thanks to thoughtful touches like a board and batten accent wall, and sleek recessed floor lights that dance along the base of the glass-encased floating staircase (yes, it’s as cool as it sounds). The kitchen is a true showstopper with crisp white shaker cabinets, luxe Samsung black stainless steel appliances, and quartz countertops that sweep seamlessly up the backsplash. A two-tier island (hello, breakfast bar for 3+) anchors the space like it was made for Saturday morning pancakes and wine-and-cheese nights with friends. Slide open the back door and you’re in your very own urban oasis—a massive, flat backyard just begging for garden beds, a fire pit, string lights, or jungle gym and sandbox. Downstairs, the finished lower level offers a whole extra zone for living or lounging. There’s a stylish wet bar, a cozy bonus room perfect for movie nights or playdates, and a guest suite complete with a full bath and standout funky tilework. On the second level, you'll find two bright and airy bedrooms—one with its own private balcony, the other features a thoughtful custom closet—and a sleek hall bathroom, plus a laundry closet right where you need it. But the third level? That’s all primary suite magic. Think: sun-drenched bedroom with a gas fireplace, a jaw-dropping, floor to ceiling custom walk-in closet, and a spa-like bathroom that’s practically begging for a bubble bath. Soaking tub? Check. Double vanity with LED-lit mirrors? Absolutely. Giant rainfall shower? Of course. Just outside the suite, there’s a convenient wet bar so you can pour a drink before heading up to your private rooftop deck. Whether you're sipping morning coffee above the treetops or winding down with a glass of wine under the stars, this sky-high escape is the cherry on top. With pre-wired speakers throughout and a Ring doorbell to keep things secure, this home is equal parts smart and stylish. Tucked just a block from Germantown Avenue, you’re moments from local cafés, eclectic shops, and neighborhood favorites. Downtime Bakery and Zsa's Ice Cream will be your new regular spots! Plus, you’ve got the charm of Chestnut Hill and the buzz of Manayunk both within easy reach. 101 E Phil Ellena Street is more than a home—it’s your next adventure. Schedule your tour today and see it for yourself. And six+ years remaining in the TAX ABATEMENT make this a truly special opportunity.
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.
