Welcome home to 240 Tantum Drive in Hamilton NJ! This home offers the perfect blend of modern comfort and timeless character and style. Enter off your private redone driveway (2021) and into a gorgeous, updated kitchen. Quartz countertops, soft close cabinets and updated flooring throughout the first floor. The kitchen is complete with a gas range, built in microwave, and stainless-steel appliances. Continue into the living room where you are flooded with natural light from the large windows. Down the hall you have the remodeled bathroom complete with a tub shower and linen closet. At the end of the hall, you will find 2 spacious bedrooms. One is currently being used as a dining room with plenty of space for entertaining. The other is a primary bedroom which comfortably fits a king sized bed. As you go upstairs take notice of the original hardwood floors. Upstairs you will find two additional spacious bedrooms that can be used for guests or an in-home office. One of the highlights of this house is the basement! This space has been transformed into an area that is fantastic for entertaining friends and family. The full basement has additional space for an in-home gym as well as additional storage. Step outside to your fenced-in backyard (completed 2-4 years ago), where you can enjoy your morning coffee on the patio. This generous outdoor space is perfect for entertaining guests, hosting gatherings, or enjoying games and activities with family and friends. The air conditioning was installed in 2019. Located near a variety of shopping and some of the amazing restaurants Hamilton has to offer yet close to I 295, Trenton Transit Center and Trenton-Mercer Airport for easy commuting! Don’t miss your chance to make this beautiful home yours!
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.
