Welcome to 216 Columbia! This Unique custom expanded home in desirable Horsham Township featuring a fully renovated in-law suite. This Contemporary style property offers approximately 3,000+ square feet of finished living space with 5 bedrooms and 3 full bathrooms, including a private studio-style in-law suite with its own kitchenette and full bath—perfect for extended family, guests, or flexible living arrangements. The main home features 4 spacious bedrooms and 2 full bathrooms and is highlighted by a breathtaking two-story great room with soaring ceilings, skylights, and a balcony overlooking the space below. The entire first floor features beautiful wood flooring, adding warmth and continuity throughout the main living areas. The fully renovated kitchen showcases custom wood cabinetry, granite countertops, marble tile flooring, and a breakfast bar, opening into an oversized formal dining room—ideal for entertaining. The marble flooring continues into the dining and living areas, enhanced by additional skylights that flood the space with natural light. The first floor also includes a beautifully updated full bathroom and convenient inside access to the attached one-car garage. Upstairs, you’ll find four generously sized bedrooms and an updated hall bathroom featuring a double vanity and an expanded walk-in shower with floor-to-ceiling marble tile. Recessed lighting throughout the home complements the abundant natural light. Situated on approximately half an acre spanning street to street, the property offers a private scenic backyard with a large covered porch and tiled entertaining area, perfect for gatherings in any weather. The home sits set far back from the road on a quiet street, providing added privacy and a large private driveway with ample parking. This home offers a rare combination of space, character, and flexible living options in a highly sought-after Horsham location. Schedule your appointment today! PLEASE REACH OUT TO YOUR LOCAL AGENT FOR THE VIRTUAL TOUR.
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.
