Welcome to this charming Cape Cod style home in the desirable Spring-Ford Area School District! The moment you step inside, you’re greeted by a sense of comfort and familiarity - the kind of place where life’s everyday moments unfold with ease and joy! The living room becomes the heart of the home, a space for laughter, movie nights, or quiet evenings. Start your mornings in the sunlit kitchen where you can enjoy your coffee or outside on the covered patio. There are two bedrooms on the main floor, one could be the primary (with a generous closet), and the other for family or guests. The full bathroom with a walk-in tub and the main floor laundry offers added convenience, making effortless daily routines. As you ascend to the second floor, you will discover an area that provides a private haven with an additional shower bathroom ensuring everyone has their own space. The bedrooms are filled with Cape Cod charm, and the bonus/additional room could be used as a 5th bedroom, office/study or playroom - allow your imagination to come alive! Step outside through the sliding door and you will see the property's charm extend beyond the walls. The detached oversized garage is more than just storage - it’s a workshop, a tinkerer’s dream or a place to keep your vehicle safe from nature's elements. The storage area above the garage (accessed through the back) offers plenty of space. The generous lot size offers off-street parking and space to stretch out, while the covered patio invites you to linger outdoors. Picture summer evenings spent grilling or crisp autumn mornings with a blanket and book. The recently installed roof offers peace of mind and long-term durability! Like every good story the setting matters - close to parks, schools and easy access to Route 422, shopping and dining in the Collegeville and Phoenixville area, this home’s location is key. Every home has a story to tell, be the start to the next chapter of this home's story! Brand New Roof installed 11/2025 with transferrable warranty!
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.
