Welcome to 1609 W STILES Street! If you’ve been searching for a MOVE-IN ready and well cared for home, this is totally it! Featuring 3 BEDROOMS and 3.5 BATHROOMS, you also have a fully FINISHED BASEMENT (which includes one of the full baths!). The basement could function as a home gym, additional living space, movie room, or a great work from home space! This home was renovated in 2012, with a NEW ROOF installed in 2020. The main level offers HARDWOOD FLOORS, a spacious kitchen, and a powder room. The private OUTDOOR SPACE is great and spacious- whether you're grilling, dining, or just simply relaxing. The second level includes 2 bedrooms and 2 full baths, plus your washer and dryer (saving you trips to the basement to do laundry!). The LOCATION is unbeatable: a 5-minute walk to the Broad Street Line (BSL) at Girard station, offering quick access to Center City, TEMPLE UNIVERSITY, and a straight shot down to the infamous stadium district. Immerse yourself in Philly's cultural scene with the iconic DIVINE LORRAINE a 10-minute walk away- a Philly landmark that blends historic charm, art, and community. Quick access to I-95 and I-676! ENTERTAINMENT: Love concerts? The MET is only a 7-minute walk, featuring some of Philly's best live shows and events. RESTAURANTS/DINING: Craving a local brew? Support local! Check out BAR HYGGE or Libertee Grounds- which also features indoor mini golf! Treat yourself to delicious Italian at (the oh-so-charming) OSTERIA. Snag a square pie and hang out at SANTUCCI's. Enjoy some Coffee at VINEYARDS CAFE or CAMBRIDGE ST COFFEE HOUSE. GROCERY STORES: Plenty within walking distance! ALDI, GIANT and THE FRESH GROCER. Nearby SCHOOLS include General George G. Meade School, MASTERMAN, SAINT JOE'S PREP. WALKABLE to other nearby neighborhoods including Fairmount, Brewerytown and Center City. The overall space at 1609 W Stiles is extremely accommodating and ready for its next owner! Come see this for yourself before it's too late!
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.
