Fully Rehabbed Multi-Family - Turnkey Investment! Beautifully renovated in 2019, this multi-family property features modern finishes and quality upgrades throughout. Improvements include a new tear-off roof, copper plumbing, electrical panel, windows, and professional tuckpointing. Both units offer Shaker cabinets, granite countertops with backsplash, stainless steel appliances, ceramic-tiled bathrooms, refinished hardwood floors, updated fixtures, and fresh professional paint. The first-floor unit includes 3 bedrooms and 2 full baths, including a master suite. The second-floor unit offers 3 bedrooms and 1 full bath. A fully finished basement with a half bath adds additional living space with 2 bedrooms, adding value. Complete with a 2-car garage. Conveniently located near the Roosevelt Road commercial corridor with easy access to I-290 and public transportation. A must-see and easy to show! Room dimensions are estimates; buyer/agent to verify all information. Propiedad Multifamiliar Totalmente Renovada - Lista para Invertir! Hermosa propiedad multifamiliar completamente remodelada en 2019, con acabados modernos y mejoras de alta calidad. Las actualizaciones incluyen techo nuevo con arranque completo, plomeria de cobre, panel electrico, ventanas nuevas y tuckpointing profesional. Ambas unidades cuentan con gabinetes estilo shaker, encimeras de granito con protector contra salpicaduras, electrodomesticos de acero inoxidable, banos con acabados en ceramica, pisos de madera refinados, accesorios actualizados y pintura profesional. La unidad del primer piso ofrece 3 dormitorios y 2 banos completos, incluyendo una suite principal. La segunda unidad cuenta con 3 dormitorios y 1 bano completo. Un sotano completamente terminado con medio bano anade espacio adicional con dos recamaras incrementando el valor. Incluye garaje para 2 autos. Ubicada cerca del corredor comercial de Roosevelt Road, con facil acceso a la I-290 y al transporte publico. Una excelente oportunidad y facil de mostrar! Las dimensiones de las habitaciones son estimadas, el comprador/agente debe verificar toda la informacion.
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.
