Photos and Floorplans Coming Soon on 6/25! RARE DOUBLE LOT IN MONTCLAIR! Tucked away on a quiet cul-de-sac, this one-of-a-kind property includes the adjoining rear parcel, creating nearly half an acre of peace, privacy, and natural beauty complete with mature trees and a tranquil creek at the back of the property. From the moment you arrive, you'll appreciate the exceptional curb appeal with beautiful landscaping, replaced windows, newer roof and siding, and a welcoming exterior that hints at the special home inside. Step through the front door and prepare to be amazed by the expansive great room addition featuring soaring space, walls of picture windows, seamless hardwood floors, and a cozy marble fireplace—all designed to bring the outdoors in. The fully renovated kitchen is equally impressive with gorgeous quartz countertops, stainless steel appliances, and excellent flow into the formal dining room overlooking the great room below. Step outside to the deck and enjoy grilling, entertaining, or simply soaking in the privacy of your extraordinary double lot. Upstairs, the custom addition transformed this home into something truly special. The spacious primary suite offers a relaxing retreat with an attached bath featuring a large soaking tub. The secondary suite is equally generous with its own private full bath and excellent closet space. Two additional bedrooms feature hardwood floors, large closets, and share an updated hall bath. The surprises continue on the lower level with a private den perfect for a home office, guest space, or flex room, an adjoining full bath, laundry room, and climate-controlled storage room. Just a few steps down, the expansive rec room is ready for movie nights, gaming, or your personal library, complete with a full wall of custom built-ins and sliding doors leading to the backyard oasis. Opportunities like this rarely come along in Montclair. A customized floor plan, two upper-level suites, expansive living spaces, and a rare double lot create a home unlike anything else on the market. Don't miss your chance to make it yours. Enjoy all the incredible amenities Montclair has to offer including a 109-acre stocked lake with those sandy beaches, boat ramp, boat storage, fishing piers, playgrounds/tot lots, ball fields, exercise stations, new dog park, 18-hole golf course with full-service Country Club, ...the list goes on! Easy access to I-95 and nearby commuter lots/buses make it easy to commute to DC, the Pentagon, and beyond. Home is currently enrolled in a premium home warranty with the option to transfer to buyer at closing. BONUS, this is a Project My Home Approved Listing. Qualified buyers may be eligible for a fixed interest rate as low as 4.99% through the seller’s preferred lender program. Buyer must qualify and speak directly with lender for full details, program terms, and disclosures. Rate, APR, and program availability subject to borrower qualification and may change without notice.
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.
