Improved Sales Price. Home Warranty til August 2027. Nestled in the charming Connecticut Gardens neighborhood, this delightful ranch-style home offers a perfect blend of comfort and community. Built in 1951, this well-maintained residence boasts a classic brick front and vinyl siding, exuding timeless appeal while providing modern conveniences. With 1,632 square feet of thoughtfully designed living space, this home features four spacious bedrooms and three full bathrooms, making it an ideal retreat for those seeking both space and functionality. Step inside to discover a fully finished basement that invites creativity and relaxation, perfect for a family room, home office, or play area. The daylight windows allow natural light to flood the space, creating a warm and inviting atmosphere. The connecting stairway adds convenience, making it easy to transition between levels. The exterior of the home is equally inviting, set on a generous 0.18-acre lot that offers ample room for outdoor activities and gardening. While there is no pool, the expansive yard provides endless possibilities for creating your own outdoor oasis. Off-street parking ensures that you and your guests will always have a convenient place to park. Living in Connecticut Gardens means embracing a vibrant community filled with friendly neighbors and a strong sense of belonging. The area is known for its well-maintained parks, perfect for leisurely strolls, picnics, or weekend sports. Convenience is key in this neighborhood, with local shops, restaurants, and essential services within easy reach. Whether you're grabbing a morning coffee or enjoying a leisurely dinner, everything you need is just around the corner. The community spirit is palpable, with seasonal events and gatherings that foster connections among residents. This home is not just a place to live; it's a place to thrive. Experience the warmth of Connecticut Gardens, where comfort meets community, and make this charming residence your own. Don't miss the opportunity to create lasting memories in a neighborhood that truly feels like home.
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.
