PRICE REDUCTION! Opportunity knocks for instant equity on this adorable Cape Cod. Nestled in the charming Glen Mary Heights community, this delightful home offers a perfect blend of comfort and convenience. Built in 1998, this residence boasts a spacious 1,784 square feet of finished square footage, set on a generous 0.46-acre lot that invites you to create your own outdoor oasis. As you approach the home, the classic vinyl siding and inviting architecture with dormers set the tone for what lies within. The interior features a full basement with a connecting stairway and bilco doors to the exterior rear yard, providing ample space for storage or the opportunity to customize it to your liking. Imagine transforming this unfinished area into a cozy family room, a home gym, or a creative studio-whatever suits your lifestyle! Glen Mary Heights is more than just a neighborhood; it's a vibrant community where neighbors become friends. Enjoy leisurely strolls through tree-lined streets, where the warmth of community spirit is palpable. The area is known for its well-maintained parks, perfect for picnics, playdates, or simply unwinding in nature. Local parks offer playgrounds, walking trails, and open spaces for recreational activities, making it easy to embrace an active lifestyle. For those who enjoy local amenities, Glen Mary Heights is conveniently located near shopping centers, dining options, and entertainment venues. Whether you're in the mood for a cozy café or a night out, everything you need is just around the corner. With off-street parking available on a double wide 8+ car asphalt driveway, this home is not only functional but also welcoming. The potential for outdoor gatherings is limitless, with plenty of space to host barbecues, garden, or simply relax under the stars complete with a cozy screened in porch. This property is a canvas waiting for your personal touch, offering a unique opportunity to create a home that reflects your style and values. No HOA or town taxes. Embrace the charm of Glen Mary Heights and make this delightful residence your own. Experience the comfort of community living, where every day feels like a retreat.
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.
