Welcome home to 1406 N 22nd Street! Located in the Fairmount neighborhood - listed on the National Register of Historic Places and beloved for its tree-lined streets and authentic character. Featuring 3 bedrooms, a flex room, 2 full bathrooms and over 1800 square feet, you won’t want to miss it! Upon arrival, you are greeted by a newly painted, moody exterior blending modern appeal with historic charm. The full front porch is the perfect perch for morning coffee or evening conversation. Beautifully refinished heart pine floors set a warm, timeless tone and carry you throughout the living areas and entire second floor. The spacious foyer flows naturally into a sun-drenched living room. Stepping further, you’ll find a wonderful dining room able to accommodate intimate or large gatherings alike. Through the dining is a large kitchen with ample cabinetry for storage, an island and even a breakfast nook for quick meals. The bathroom off the back of the kitchen is tucked nicely beside the access to the covered rear porch. Standing on the porch, enjoy the fully fenced private backyard - a rare city retreat. It boasts alley access and multiple plantings thoughtfully chosen to mature well over time. Before heading upstairs, you’ll find a well utilized space adjacent to the stairs for all your laundry needs. Upstairs, three spacious bedrooms capture natural light from multiple exposures, creating an airy, open feel. A shared hall bathroom serves the second floor with ease. A fourth flex room at the front of the hall offers the perfect office, small studio, or nursery setup. The location is just as compelling as the home itself. Fairmount sits at the edge of Church Hill, one of Zagat's ten hottest food neighborhoods in America. Featuring loads of local favorites within an easy walk, enjoy happy hour at Metzger Bar & Butchery, grab coffee and a pastry at Sub Rosa Bakery, enjoy cocktails and dinner at The Roosevelt, or try something unique at Proper Pie Co. Hurry and schedule your showing today before it’s too late!
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.
