Welcome to 106 Stonebridge Ln! Located in desirable Stonebridge Crossing, this is one of Downingtown's most sought after neighborhoods. A few of the many reasons why are wide streets, sidewalks, large lots & the location! Within a short drive, you will find quick access to major routes 30, 322, 113, 282, the Downingtown train station, vibrant Downingtown borough, shopping centers, restaurants, country clubs and parks! This home sits on a premium, flat lot and features an expanded driveway, mature landscaping and a low-maintenance exterior! A charming covered entry and dramatic 2-story foyer welcomes you inside. Prepare to be wowed by the condition & features! The main level is highlighted by the eat-in kitchen, which was completely renovated and redesigned in 2019. It's a cook's dream with white cabinets with pullouts, under cabinet lighting, 5-burner gas cooking, stainless appliances, brand new refrigerator, ample counter space, tile backsplash, added recessed lighting, and a sunny breakfast area! The kitchen conveniently opens to the cozy family room. The family rooms offers access to the covered deck and rear staircase to the upper level. The formal dining room and office both feature brand new carpeting. A powder room and access to the 2-car garage complete this level. The upper level is highlighted by the massive primary suite. It features a sunny sitting area with triple windows, ceiling fan and attached full bath (updated in 2022). Step inside the primary bath and unwind with the expanded walk-in shower, tile flooring, dual sinks and vanity and large walk-in closet. Three additional generously sized bedrooms all featuring ceiling fans and a hall bath complete this level. Need more space? The fully finished basement offers significant additional living area to use as you see fit! There is a separate laundry room and ample storage space. Looking for outdoor space? The large covered deck overlooks the amazing backyard featuring a stone fire pit area, and is perfect for enjoying the upcoming warm months! The lush green flat backyard offers maximum usable space for play, gardening and entertaining. Need more value? This home offers a rare combination of features including public utilities, natural gas and an exceptional lot. Additional features include newer HVAC, recently replaced hot water heater and an oversized 2-car garage. All of this in the most convenient location! It must be seen in person to fully appreciate the condition and value! Schedule your tour today!
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.
