Welcome to 149 E County Road 180 N, Frankfort, IN, where a delightful 3508 square foot single-family residence, is eagerly awaiting its next adventure. This inviting home is ready for you to move in, unpack, and start living your best life, offering a whimsical blend of comfort and convenience. This inviting kitchen offers an abundance of warm wood cabinetry, generous counter space, and a functional U-shaped layout designed for everyday living and entertaining. The oversized peninsula with breakfast bar seating creates a natural gathering space, while the large window over the double-basin sink fills the room with natural light and provides peaceful views. Features include built-in wall oven, updated stainless steel refrigerator, and an adjoining dining area with easy access to outdoor living space. A spacious, well-maintained kitchen with exceptional storage and workflow. With five bedrooms, there's ample space for everyone to spread out, dream big, and maybe even build a pillow fort or two. And with three full bathrooms and one half bathroom, morning routines will be less of a scramble and more of a joyful parade. Beyond the walls of this charming two-story abode, you'll discover an attached garage, perfect for protecting your vehicle from the elements or stashing your most prized possessions. Step outside to a patio that's just begging for barbecues, stargazing, or simply enjoying a quiet moment with your favorite beverage. The above ground pool is ready for you to soak up the sun in! This property is a veritable treasure chest of joy, so why not come and unearth its magic for yourself?
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.
