Nestled in the charming Parkside neighborhood, this exquisite Colonial twin home exudes timeless elegance and modern comfort. Built in 1920, the property showcases a stunning stucco exterior that harmonizes beautifully with the surrounding landscape, inviting you to experience a lifestyle of sophistication and ease. As you approach the home, the meticulously maintained sidewalks and street lights create a warm and welcoming ambiance. The property features a detached garage with front entry, providing ample space for your vehicles while enhancing the home's curb appeal. The driveway and on-street parking options ensure convenience for both residents and guests. Step inside to discover a thoughtfully designed interior that balances classic charm with contemporary living. The fully finished basement, complete with heating and multiple access points, offers a versatile space perfect for a home gym, entertainment area, or additional storage. The main living areas are adorned with a blend of hardwood, carpet, and tile flooring, creating a cozy yet refined atmosphere throughout. The heart of the home features a beautifully appointed living room, where a brick wood-burning fireplace serves as a focal point, inviting you to unwind and enjoy intimate gatherings with loved ones. The seamless flow between the living spaces enhances the sense of connection and comfort, making it an ideal setting for both relaxation and entertaining. With four spacious bedrooms and four well-appointed bathrooms, including two full and two half baths, this residence accommodates both privacy and convenience. Each bedroom offers ample natural light and generous closet space, ensuring a serene retreat at the end of the day. This home is not just a residence; it's a lifestyle. Experience the perfect blend of historic charm and modern amenities in a community that values comfort and connection. Embrace the opportunity to make this exquisite property your own, where every detail has been curated for a life of luxury and ease.
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.
