Nestled in the charming Northwood neighborhood, this exquisite Colonial townhouse, built in 1939, seamlessly blends classic elegance with modern comforts. Spanning 1,580 square feet, this residence offers a warm and inviting atmosphere, perfect for creating lasting memories. Step inside to discover a thoughtfully designed interior that exudes character and sophistication. The spacious dining area invites you to host intimate gatherings or festive celebrations, while the well-appointed kitchen features high-quality appliances, including a sleek refrigerator and a reliable stove, ensuring culinary adventures are always within reach. The home boasts three generously sized bedrooms, each offering a serene retreat for relaxation. Two full bathrooms are tastefully designed, providing both functionality and style. The layout flows effortlessly, enhancing the sense of space and comfort throughout. Natural light pours in through the windows, illuminating the rich brick construction and highlighting the home's very good condition. The connecting stairway leads to a basement that offers additional storage or potential for customization, catering to your unique lifestyle needs. Step outside onto the charming balcony or porch, where you can savor your morning coffee while taking in the stunning city views. This outdoor space is perfect for unwinding after a long day or enjoying the vibrant energy of the neighborhood. For those who appreciate convenience, the property features an attached garage with rear entry, complete with a garage door opener, ensuring easy access and secure parking. The paved driveway adds to the overall appeal, providing a private and welcoming entrance. Living in Northwood means embracing a lifestyle of comfort and community. With its proximity to local amenities and the vibrant city life, this home offers the perfect balance of tranquility and accessibility. Whether you're enjoying a quiet evening at home or exploring the nearby attractions, this residence is a true sanctuary. Experience the charm and elegance of this Colonial townhouse, where every detail has been carefully considered to create a space that feels like home. Don't miss the opportunity to make this exceptional property your own and enjoy the exclusive lifestyle it offers.
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.
