Live authentically. Steeped in history and perfectly situated in the energetic heart of Mt. Vernon, 17 W Chase St provides a rare opportunity to experience timeless architecture paired with remarkable versatility. Beautifully preserved details are found throughout including hardwood floors and elegant staircases that speak to its storied past. Offering exceptional flexibility, the entry-level floor—conveniently located just off the main entrance—is an ideal space for a business or an income-producing rental. Occupy the upper levels while generating supplemental income from the first floor or easily convert the space back to living quarters and enjoy the entire residence as one expansive home. Gather with friends and family in the sitting area with built-ins or in the refined dining space. Multiple gas stoves create warmth and ambiance throughout. Cook to your heart's content in the generously sized chef's kitchen, complete with a seating area and direct access to the outdoor deck where you can unwind and sip your morning coffee. The primary suite is a retreat of its own with a spacious bath, private sauna and custom walk-in closet. Additional bedrooms have generous proportions and are complemented by ample storage throughout the home. Parking options are available including the convenience of the garage directly across the street for a minimal fee and with free EV charging. Begin the new lifestyle you've always wanted and relish the very best of city living with restaurants, a grocery store, gym and so much more within your grasp. Walk to Penn Station for easy daily commuting. A truly special offering where historic elegance, modern flexibility and an unbeatable location seamlessly come together. See MLS# MDBA2217190 for the combined property listing for both 17 W Chase St and 19 W Chase St. Cultivate your existence. The art of uniting human and home.
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.
