Welcome to 2135 Riverside Dr! An elegant home that beautifully captures the timeless charm and character Lakewood is known for. From the moment you arrive, you’ll be drawn in by its inviting curb appeal, rich original woodwork, and stunning architectural details that speak to the home’s history and craftsmanship. Hardwood floors flow throughout, adding warmth and continuity, while the setting—on a picturesque, tree-lined street overlooking the valley of the Rocky River Reservation—offers a truly special backdrop. The welcoming foyer opens to a spacious living room centered around a striking fireplace with a wood mantel. Crown molding highlights the architectural detail, while hardwood floors add warmth. A cozy sunroom offers the perfect place to relax or work from home. The formal dining room features stunning built-in cabinetry, adding both charm and function. The kitchen blends classic style with everyday convenience, offering rich wood cabinetry, deep-toned countertops, stainless steel appliances, and a tiled backsplash. A charming breakfast nook provides the perfect spot for casual meals. A mudroom and half bath complete this level. The second floor offers three spacious bedrooms, including one with access to a beautiful rooftop deck—an ideal retreat for relaxing evenings under the stars. The full bath blends vintage and modern finishes with a timeless feel. The third floor is dedicated to a private owner’s suite, featuring vaulted ceilings and original built-in drawers that add both character and function. A full bathroom with a beautifully tiled walk-in shower completes this inviting retreat. The walk-out finished basement adds additional living space with a large rec room, a full bath with a soaking tub and walk-in shower, plus laundry and storage. Step outside to a fenced-in backyard designed for both relaxation and entertaining, complete with a tranquil pond, patio area, and carport. A detached two-car garage adds convenience to this truly special home
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.
