Welcome to 164 Laurelwoods Dr! Imagine owning a stunning mountain retreat that not only serves as a personal getaway but also generates income . This end unit harmonizes beautifully with the surrounding landscape, inviting you to step inside and experience its welcoming charm. As you enter, you're greeted by an expansive open living space with many windows that flood the room with natural light. The well-designed layout ensures ample seating for guests, making it an ideal home for entertaining. Whether hosting a dinner party in the spacious dining area or enjoying a casual conversation in the living room around the fireplace, there's plenty of room for everyone to relax and unwind. The kitchen, equipped with modern appliances and a generous island, seamlessly integrates with the living space, allowing for effortless interaction with family and friends while preparing meals. This home boasts four comfortable bedrooms and three well-appointed bathrooms, ensuring everyone has their own private retreat. The master suite is a true sanctuary, featuring an ensuite bathroom with a luxurious jacuzzi tub and a walk-in shower. The finished basement provides additional living space, perfect for a media room, game room, home gym, or guest suite. With its blend of charm, spaciousness, and thoughtful design, this home offers a perfect escape from the hustle and bustle of everyday life, inviting you to create lasting memories in a setting of unparalleled beauty. Outdoor enthusiasts will find plenty to do, as the property is conveniently located near Big Boulder and Jim Thorpe. After a day of exploring, unwind on the deck or use the community pool. Updates include new flooring to the basement recreation room, fresh paint throughout the home, and a new water heater. Home is being sold fully furnished. Schedule your showing today!
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.
