Open House Sun 12/7 from 2-4 pm-Please reach out directly to the listing agent if you are not currently represented by an agent. Welcome to 12615 E 86th St, a charming home nestled in the desirable Geist area of Indianapolis, just a stone's throw from the picturesque Geist Reservoir. This inviting home sits on an impressive lot of over 1 acre, offering a serene wooded backdrop that enhances your outdoor living experience. The home features three spacious bedrooms and two and a half baths, providing ample space for families or those who love to entertain. Recent updates include the renovated kitchen with granite countertops and Italian tile floors. The island is moveable for your convenience. HVAC is new. Roof was replaced 6 years ago-New Windows throughout the home in 2017.Full unfinished basement with a fireplace. Reinforced Attic space accessed through back bedroom provides over 200 sq ft of storage or kids play area-Garage features workshop and access to the backyard-When you step inside, you'll find a thoughtfully designed layout with over 2,240 square feet of living space. The main level showcases a cozy living room anchored by a fireplace, an updated kitchen with modern appliances, and a dining area perfect for family gatherings. Upstairs, the expansive primary bedroom includes a walk-in closet and an ensuite bath for added convenience. Gutter guards and 400 ft of downspouts to dumps water 80 ft away from the home have been installed-New well pump and water tank-Beyond the home, the Geist area offers exciting lifestyle amenities. Just a short drive away, you'll discover popular local spots such as Daniels Vineyard and Wolfies on Geist, where you can unwind and enjoy the scenic views and community atmosphere. With its combination of spacious living, tranquil surroundings, and nearby attractions, this property is a rare find. Don't miss your chance to make it your own!
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.
