Classic 3-bedroom, 2-bath traditional home in Wyoming, MI offering 1,378 sq ft of finished living space on a 40x105 lot. Built in 1920 with character and updates throughout - priced to move. Step inside to a bright main level featuring refinished dark hardwood floors, fresh blue-gray paint, and a classic staircase with white spindle railing and oak treads. The spacious living room opens to a large adjacent flex space with wall sconces and sliding glass door access to a full-width rear deck spanning the entire back of the home - built for entertaining. The generous kitchen features abundant white cabinetry, dark laminate countertops, tile backsplash, and a dishwasher. Seller offering flooring allowance for the kitchen - choose your own finish at close. Upstairs, three bedrooms include a primary with vaulted ceiling detail and two large windows overlooking mature trees. A second bedroom adds its own personality with accent wall paneling. The unfinished basement (624 sq ft) houses mechanicals with ample storage. Detached 1-car garage and fully fenced backyard with fire pit area round out the exterior. Additional features: vinyl siding, vinyl trim, window A/C, baseboard heat. Possession at close. Location highlights: Battjes Park and Marquette Park are just blocks away. Wyoming sits just five miles south of Downtown Grand Rapids, with quick access to US-131. Millennium Park - the largest urban park in West Michigan with a 6-acre beach, boat rentals, and 12+ miles of trails - connects Grand Rapids, Wyoming, Grandville, and Walker. RiverTown Crossings Mall, Costco, Target, and Meijer are minutes away, and the Kent Trails 15-mile regional trail system begins at Millennium Park and runs directly through Wyoming. Gerald R. Ford International Airport is approximately 12 miles east via 28th Street.
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.
