Welcome to this spacious 2-story detached home located in the quiet, friendly borough of Terre Hill. From the moment you arrive, the full front porch invites you to sit back and enjoy the small-town atmosphere. Step inside to a generous foyer that leads into a bright and airy living room featuring tall ceilings—perfect for relaxing or entertaining. The main floor continues to impress with an updated kitchen offering ample table space for casual dining. A convenient half bath, mudroom, and laundry area complete the first-floor layout, making everyday living effortless. Upstairs, you’ll find three large bedrooms and a full bath, providing plenty of space for family or guests. Need more room? The full walk-up attic offers extra storage, or possibly future finished space. Car and hobby enthusiasts will love the attached 2-car garage, while the extra-deep lot provides generous yard space for play, gardening, or your dream outdoor retreat. This property provides you a rare opportunity to purchase before the scheduled auction on Wednesday, May 27 at 4:00 PM. This is not a foreclosure or tax auction. The seller/owner elected to offer this property at auction while also considering pre-auction offers. Want to buy it before the crowd shows up at the auction? Pre-auction offers are welcomed, giving you the opportunity to purchase early. Otherwise, it heads to the live auction where bidding can move quickly. Review the property info, documents and auction terms, and make your move before someone else does. Auction registration is simple and fast with in-person and online bidding available. If you plan to attend in person, arrive about 30 minutes early to check in and receive your bidder number. If you prefer to bid online, check out the documents and auction link or contact your agent for assistance with registration. A 10% buyer’s premium is added to the winning bid at auction to become the total purchase price. Buyer pays all transfer taxes. The published minimum bid is $150,000. Be sure to read the full terms and conditions and check the auction page for more info. The auction for this property is scheduled for Wednesday, May 27 at 4:00 PM. Onsite and online bidding available.
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.
