Welcome to 15 Westminster Ter--a stylish, sun-drenched Tudor with loads of curb appeal and thoughtful updates throughout. This beautifully-maintained home features a spacious primary bedroom with four windows allowing for all-day natural light, along with two other bedrooms and an impeccably updated full bath to complete the second floor. The eat-in kitchen opens via sliders to an oversized deck, perfect for indoor-outdoor living and entertaining. Great first-floor flow also includes a formal dining room, living room with WBF, and separate den (currently used as office). Downstairs, the exquisitely finished lower level offers even more living space: rec-room, magazine-worthy laundry area, French Drain for peace of mind, a cozy electric fireplace, and a gorgeous full bath. Fun, on-trend light fixtures add personality throughout, making the home as charming as it is functional. Nestled on a flat, quiet street perfect for biking, a pickup game of hoops, or simply relaxing out front with neighbors--this coveted Englishtown block is part of West Orange's most beloved and serene neighborhoods. With direct connections to I-280, I-78, I-95,and Garden State Parkway, plus the free West Orange jitney to Mid-town Direct trains just steps away--commuting is a breeze! All this plus gleaming hardwood floors throughout, newer windows and just minutes to the Turtle Back Zoo, The Reservoir & Pirate Playground, neighborhood playground, and West Orange's best shops and eateries. Welcome Home!
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.
