Nestled in the charming Grays Ferry neighborhood, this beautifully renovated interior row townhouse offers a perfect blend of modern luxury and classic charm. Originally built in 1925, this home underwent a major renovation in 2020, transforming it into a sophisticated retreat that exudes warmth and comfort. Step inside to discover an inviting open floor plan that seamlessly connects the living, dining, and kitchen areas, creating an ideal space for both relaxation and entertaining. The luxury vinyl plank flooring flows throughout, providing a stylish yet durable foundation that complements the home's elegant aesthetic. The heart of the home is undoubtedly the gourmet kitchen, equipped with high-end stainless steel appliances, including a gas oven/range, refrigerator, microwave, dishwasher, and convenient washer and dryer. Whether you're preparing a casual meal or hosting a dinner party, this kitchen is designed to inspire culinary creativity while offering ample storage and counter space. With two spacious bedrooms and two full bathrooms, this residence provides a comfortable sanctuary for rest and rejuvenation. Each bathroom has been thoughtfully designed with modern fixtures and finishes, ensuring a spa-like experience at home. The layout maximizes natural light, creating a bright and airy atmosphere that enhances the overall sense of tranquility. The full basement offers additional potential for customization, whether you envision a cozy den, a home gym, or extra storage space. Outside, the property features a low-maintenance lot, allowing you to spend more time enjoying the vibrant community and less time on upkeep. Parking is convenient with on-street options available, making it easy to come and go as you please. The Grays Ferry neighborhood is known for its friendly atmosphere and proximity to local parks, shops, and dining, providing an exclusive lifestyle that balances urban convenience with a sense of community. This home is not just a place to live; it's a lifestyle choice that embraces modern living while honoring its historical roots. Experience the perfect blend of luxury, comfort, and community in this stunning Grays Ferry townhouse. Your dream home awaits!
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.
