While not the boro vibe of Conshy...the perfect alternative...a bit different lifestyle in the suburban settling of popular Whitemarsh Twp./Plymouth Meeting...your in the same highly desirable Colonial School district and directly across the street from the Colonial School district complex which rivals some colleges, this chute and quaint detached single family home with nice sized fenced rear yard awaits new owners to start or continue their home ownership memories. Upon entry to this home an open living/dining room greets you which flows into a modern kitchen with island/breakfast bar area, quartz tops, gas range/oven and stainless appliances. The living/dining area is complimented by a fireplace. Off the living room to the rear of the home is a separate bright & cheerful family/sun room with vaulted ceiling, ceiling fan and door to the rear yard area. Other areas of the main level include a side mud room area off the driveway side entry, powder room, storage/pantry closet and laundry area. The 2nd floor area offers three bedrooms for which you can choose 1 of the 2 as your primary with a smaller 3rd bedroom. Bedrooms are complimented by a full bath. This home offers a rare basement area which has been partially finished into a rec room with a dry bar area which over the years and past owners has been a place for entertaining, enjoyment and conversation. Convenience, well this location has it and you will very much benefit from it. PW High School, the 4-5 grade center and sports complex of the school district are across the street. Sidewalks are also on the opposite side so you can take a short walk to popular Miles Park. A short drive west on Germantown Pike your into the Chestnut Hill Section of Philly with cobblestone street shoppes and restaurants. Just to the east you have access to the PA Turnpike and I-476 as well as shopping and dining at the Plymouth Meeting Mall complex. Golfing...you have Green Valley CC in your back yard, Whitemarsh Valley, Sunnybrook and Philadelphia Cricket (all private clubs) are just a stone throw away. Not a golfer walking and biking trails at Fort Washington State Park and Schuylkill River Trail in Conshy, and Fairmount Park at Bells Mill Rd in nearby Roxborough again, a short commute. Well...back to Conshy...your a short trip to public transportation, dining, entertainment, numerous employment options and access to the Schuylkill Expressway all that Conshy offer and neighboring Whitemarsh and Plymouth benefit from.
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.
