Welcome to 1591 Middletown Road, a truly rare opportunity to own one of Gradyville's most distinctive estate properties. Custom built in 1959 by Edward Culbertson, its original owner and craftsman-builder, this expansive all-brick ranch remained in the same hands for over five decades before being purchased by the current owner in 2012. Now, for only the third time in its history, this remarkable property is ready for its next chapter. Situated on approximately 3 picturesque, level acres, this sprawling residence offers over 3,700 square feet of above-grade living space featuring 5 bedrooms, 3 full bathrooms, and 1 half bath (located in the pool house). The home's impressive footprint, solid construction, and timeless design provide an exceptional foundation for modernization while preserving its original character and craftsmanship. As you arrive, you'll immediately appreciate the estate-like setting and abundance of parking and storage options. In addition to the attached 2-car garage, the property boasts a massive detached oversized garage capable of accommodating 4+ vehicles, making it ideal for car enthusiasts, contractors, hobbyists, or anyone seeking exceptional workspace and storage. The backyard is an entertainer's dream, highlighted by a rear rick patio that leads down to the stunning in-ground saltwater pool reaching depths of up to 9 feet, complete with an accompanying pool house featuring a convenient half bath. Recent pool improvements completed in 2025 include resurfacing, new tile, coping, heater, light, and filter, creating the perfect setting for summer gatherings and years of enjoyment ahead. Additional recent updates include a new roof installed in 2025 and a new well pump installed in 2026. (Pool heater wiring replacement needed.) Properties of this size, setting, and pedigree rarely become available. Whether you're seeking multi-generational living, space for hobbies and recreation, or simply the opportunity to create a one-of-a-kind estate, this home offers endless possibilities. Bring your vision and imagination—this isn't just a home; it's a blank canvas waiting for its next masterpiece. With incredible bones, unmatched space, and nearly three acres of prime ground, the foundation has already been laid for another 50-plus years of memories. The next owner won't simply be purchasing a property—they'll be continuing a legacy and writing the next extraordinary chapter in the story of this Gradyville landmark. This is strictly an as is sale, seller will not make any repairs or credits for repairs. Buyer to handle any local township requirements for Use and Occupancy.
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.
