2015 S Opal Street is a 3-bedroom, 1-bath home offering the space, updates, and flexibility buyers are looking for in South Philadelphia. From the moment you step inside, the details tell the story. Warm hardwood floors run through the main living level, anchoring a spacious and light-filled living room that creates an easy flow for daily living or hosting. One of the home's standout features is the wrought iron staircase, a distinct architectural detail that gives the first floor visual interest from the moment you walk in. The updated kitchen earns its own attention, featuring gray shaker cabinetry, tile backsplash, and stainless steel appliances. The in-unit laundry is tucked right into the kitchen, a practical convenience that is genuinely hard to find at this price point in the city. Upstairs, three bedrooms provide flexibility for sleeping space, a home office, or a guest room. The front bedroom features bay-style windows that bring in natural light and make the room feel bright and open. The unfinished basement offers substantial storage and utility space with room for bikes, tools, or a workshop setup. Out back, the private patio gives you outdoor space for grilling, gardening, or relaxing at the end of the day. Beyond the front door, West Passyunk delivers everything that makes Philadelphia city living worth it. You are steps from some of South Philly's best restaurants, independent cafes, and local shops, with parks, green space, and seamless public transit access rounding out a neighborhood that is as livable as it is beloved. At $214,700, this is a rare opportunity for buyers seeking space, updates, and location in one of South Philadelphia’s most convenient neighborhoods. Open House: Sunday May 31, 1:00–3:00 PM Information provided, including square footage, is sourced from property records and deemed reliable but NOT guaranteed. All information should be independently verified by prospective buyers. MLS# PAPH2612994
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.
