Welcome home to this beautifully maintained ranch in the heart of Brook Park! Thoughtfully updated over the years, this move-in ready home offers the comfort, convenience, and outdoor space today's buyers are looking for. Step inside to find a bright, neutral interior that makes it easy to move right in. The spacious living room flows into the eat-in kitchen, creating a welcoming space for everyday living and gathering with family and friends. Three generously sized bedrooms and an updated full bath complete the main level. The full basement offers plenty of storage and endless possibilities for additional living space, a recreation room, home gym, workshop, or hobby area. Kitchen appliances, along dryer, will remain with the home, making your move even easier. Major improvements include vinyl siding and fencing (2018), newer windows and doors, flooring, bath, and hot water tank replaced approximately two years ago, and a garage roof replaced approximately five years ago. Outside, you'll find one of the home's standout features....a fully fenced backyard designed for enjoying Ohio's warmer months. Relax on the newer deck, entertain under the pergola, host summer cookouts, or simply unwind in your own private outdoor retreat. Conveniently located near Brookgate Shopping Center, restaurants, bowling, Cleveland Hopkins Airport, and quick access to I-71, this home combines neighborhood charm with everyday convenience. Residents also enjoy access to Brook Park's popular recreation center and outdoor water park. If you've been searching for an updated ranch with a full basement, fenced yard, outdoor entertaining space, and a convenient location, this could be the one you've been waiting for.
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.
