Thisis the bungalow that you have been searching for - warm, practical, and full of everyday comforts, just steps from one of Redford Township's favorite parks. Tucked in a friendly neighborhood just up the street from Claude Allison Park, this charming 3-bedroom bungalow lives larger than it looks. The inviting living room with a cozy fireplace sets the tone the moment you walk in - it's the kind of space made for movie nights, quiet mornings with coffee, and gatherings that stretch late into the evening. The floor plan is thoughtfully laid out, with three comfortable bedrooms that offer true flexibility: a restful primary bedroom, a welcoming guest room, and a third bedroom that can easily become a nursery, home office, or creative studio. Every room feels usable and approachable - nothing wasted, everything with a purpose. At the back of the home, you'll find one of its standout features: a versatile den that becomes the real "everyday living" space. Whether you're working from home, setting up a playroom, or creating a second TV room, this den adapts to your lifestyle and gives you that extra breathing room buyers are craving and is for a wall furnace if extra warmth is desired on those cooler nights. Just beyond, the 3-season room brings in beautiful natural light and creates a seamless transition between indoors and out. It's perfect for morning coffee in the spring, bug-free summer evenings, and cozy fall nights with a blanket and a good book. It's the kind of space that quickly becomes everyone's favorite spot in the house. Outside, a fully fenced backyard offers peace of mind - ideal for pets, kids, or simply enjoying your own green space. The 2-car garage adds everyday convenience with plenty of room for vehicles, storage, tools, and toys, making day-to-day life smoother and more organized. And the location is the lifestyle bonus: being so close to Claude Allison Park means walking paths, playgrounds, and open green space are part of your routine. It's easy to imagine evening strolls, weekend picn
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.
