Move right in & enjoy this beautifully updated 3 BR,2 full,2 half bth center hall Colonial,offering exceptional curb appeal & a thoughtfully designed layout for modern living.Gracious EF welcomes you,flanked by a warm & inviting front to back FR w/fpl & a spacious EIK featuring fresh gray cabinetry.Just off the FR,a stunning all-season sunrm wrapped in windows,creates the perfect setting for relaxing or working from home.Designed for both everyday comfort & effortless entertaining,the expansive DR is highlighted by french doors that open to charming covered porch,generous patio w/hot tub,&fully fenced backyard-all perfect for outdoor dining,gatherings,& play.Back inside,a beautifully appointed powder rm completes the 1st level.Upstairs,find 3 generously sized BRs,incl a tranquil primary suite w/beautiful bth featuring a jetted tub,separate shower,& dble sink vanity.Step outside onto your private balcony-an ideal spot to start your day or unwind in the evening.2 addtl BRs & a full hall bth complete the 2nd floor.No expense was spared w/the fully renovated lower level.This true standout offers exceptional addtl living space w/HW floors,direct-vent gas fpl,stylish kitchenette,powder rm,& well-designed laundry rm,perfect for recreation,entertaining,or extended living.Ideally located close to NYC trans & all that Glen Rock has to offer incl top-rated schools,vibrant downtown shopping & dining & the town's beloved pool waiting for you this summer!This move-in ready home has it all.
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.
