Built in 1896, this iconic Urbana home has been turning heads for generations. Sitting on a corner lot wrapped in stone walls along the North and South Corridor, this 2/3 story beauty is the kind of place people slow down to look at twice. Character, charm, and wow factor -- plus the big-ticket updates to back it up. The excitement starts at the corner of Lafayette Ave and Main Street. Walk up to that gorgeous covered wrap-around front porch -- new roof -- and step inside through the double doors into a stunning foyer with an open staircase featuring all original woodwork, spindles, and ornamental posts. The dining room stuns with a fireplace, stained glass windows, and wood ceiling beams. The main level also offers a living room, family room, eat-in kitchen, first floor laundry, and a full bathroom. Upstairs, all four bedrooms and two full bathrooms are bathed in natural light. Don't skip the third floor attic -- oversized windows overlooking Downtown Urbana make this space truly special, with its own electrical panel already in place. The updates are the real deal: entire home re-wired with all new wiring, new 200 amp panel, updated interior and exterior electrical service, and separate panels in the garage and third floor. The hard work is already done. Urbana is a city on the move -- new businesses, downtown revitalization, and ongoing community investment make it one of the most exciting small cities in Ohio right now. This home sits right in the middle of it all, with new curbs, sidewalks, and street paving coming to North Main as part of the City's corridor plan. You're not just buying a home -- you're buying into a community that's investing in itself. Out back, a covered patio and detached garage with loft round out this one of a kind property. Come see it for yourself. Licensed real estate agent is the owner of this property.
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.