Circa 1704 – “The Mullica House” Step into a story nearly three centuries in the making. The Mullica House, listed on the National Register of Historic Places, is the oldest home in Historic Mullica Hill and one of South Jersey’s most treasured landmarks. Built in 1704 by Swedish settlers Eric Mullica Jr. and his wife Anne Catherine, this remarkable residence offers more than a home—it offers a legacy. Historically known as the "antique capital" of South Jersey, Mullica Hill features a charming Main Street filled with specialty shops, restaurants, and a local tavern, all surrounded by popular wineries. The community is adjacent to Rowan University and located less than 30 minutes from Center City Philadelphia, providing easy access to world-class medical facilities, Temple University, the Navy Yard, and all major professional sports arenas. From the moment you enter, you’ll feel the warmth and craftsmanship of another era. Beautifully preserved and thoughtfully maintained, the home features a cedar shake roof, copper gutters, exposed brick walls, wide-plank wood floors, and hand-hewn beamed ceilings. The backyard also includes an additional outdoor living space with a striking herringbone brick patio, lit by a wagon wheel - found on the property - that has been turned into a chandelier." Spanning three inviting levels, the home includes 2–3 bedrooms, one full bath, and a heated sunroom with custom cabinetry. The kitchen has been updated with modern appliances while honoring the home’s timeless character. The partially finished walk-out basement creates a cozy retreat, featuring a library and family room accented by rich wood flooring. Opportunities like this are exceptionally rare. The Mullica House is not simply a property—it is a place where history lives and the next chapter is waiting for you.
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.
