Nestled in the charming Cedarbrook neighborhood, this exquisite townhouse exudes warmth and sophistication. Built in 1946, the home seamlessly blends classic architecture with modern comforts, offering a unique lifestyle that invites relaxation and connection. Step inside to discover a cozy yet spacious interior, featuring hardwood flooring on the main level and plush carpeting on the upper and lower levels that enhances the inviting atmosphere. The heart of the home is the well-appointed kitchen, equipped with stainless steel appliances including a gas oven/range, refrigerator, and dishwasher, perfect for culinary enthusiasts and entertaining guests. The open layout encourages effortless flow between living spaces, making it ideal for gatherings or quiet evenings at home. With three generous bedrooms, this residence provides ample space for personalization and comfort. The partially finished basement offers additional versatility, whether you envision a cozy retreat, a home office, or a play area. Convenience is key, with laundry facilities located on the lower floor, ensuring ease of daily living. The property boasts an attached garage, providing secure parking and additional storage options. Enjoy the tranquility of the Cedarbrook community, where local amenities and parks are just a stone's throw away, enhancing your lifestyle with convenience and leisure. This home is not just a place to live; it's a sanctuary that embodies comfort, style, and the joy of home. Experience the perfect blend of classic charm and modern luxury in this delightful townhouse. *Photos are virtually staged
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.
