Make your appointment today! Set on over an acre of tranquil, wooded land, this split-level home in Gulph Mills Village presents a compelling blend of traditional architecture and practical design, thoughtfully updated for contemporary living. The exterior, a classic combination of white siding with brick accents, is framed by mature trees, creating a private and established setting. The attached car garage and asphalt driveway offer convenient access, while the natural landscaping and sloping front yard contribute to the property's rustic appeal. Inside, the home's five levels are designed to maximize both light and space. The living room, a central gathering point, features a striking wood-burning brick fireplace and a large picture window that frames scenic views, flooding the space with natural light. A spacious living room with a distinctive wood panel accent wall, complemented by recessed lighting and a ceiling fan. Throughout the main living areas, light hardwood flooring and white walls create a bright and airy ambiance. The kitchen, while functional, provides an opportunity for future personalization. The hall bathroom has convenient access to the bedrooms, the downstairs powder room is convenient for guests, and the primary bath offers a private retreat with a shower stall. The lower level introduces a comfortable den and a laundry area with outdoor access, enhancing the home's practical flow. With four bedrooms, including hardwood floors and a flexible space currently configured as a home theatre, this residence adapts to various lifestyle needs. The property's outdoor space, accessible from the dining area, includes a flagstone patio with a stone retaining wall, ideal for alfresco dining amidst the peaceful surroundings. Did you want to keep CHICKENS? Perfect spot is located out of the way. The ELECTRIC fence is installed for ease of mind. Positioned within the award-winning Upper Merion Area School District and offering quick access to major transportation routes, this home provides a balance of secluded living and urban convenience. At 121% of the city median price and significantly larger than the average King of Prussia home, this property offers substantial square footage and land, presenting a value proposition for those seeking more space and a private setting within a well-connected community. The distinct character of its split-level design, combined with its generous lot and established landscaping, offers a unique opportunity to own a property that feels both expansive and intimately connected to its natural surroundings.
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.
