Situated on a prominent corner lot in Ridley Township, this versatile home offers over 2,000 square feet of living space and a flexible floor plan ideal for those seeking additional room, multi-generational living arrangements, or a variety of work-from-home and lifestyle options. With the potential for 4 to 6 bedrooms spread across two levels, a full bathroom on each floor, a detached two-car garage, and parking for 6+ vehicles, this property offers exceptional functionality both inside and out. The main level provides the convenience of one-floor living with multiple bedroom configurations to suit your needs. A full bathroom featuring a roll-in shower enhances accessibility and makes the home especially accommodating for those requiring mobility assistance. The spacious living room flows into a large bonus room currently utilized as a bedroom, while the kitchen offers ample workspace with a convenient peninsula. A rear bedroom includes a side exterior entrance leading to the partially covered breezeway, creating an ideal setting for a home office, sitting room, or private retreat. Cedar and linen closets provide additional storage options throughout the first floor. Accessible through the laundry area with its own exterior entrance and access to a separate driveway along Hutchinson Avenue, making it well-suited for extended family, guests, or private living quarters. This space gives access to the upper level, which includes a spacious family room with existing plumbing should a future kitchenette be desired, a generous living area, a large bedroom with multiple closets, 2 additional bedrooms, a walk in closet, and a full bathroom. Outdoor amenities include the partially covered breezeway perfect for entertaining, an oversized detached two-car garage, and abundant off-street parking. Conveniently located directly across from a township playground and within walking distance to shopping and everyday conveniences, the home also offers easy access to Routes 420, MacDade Boulevard, I-95, and I-476. Philadelphia, Philadelphia International Airport, tax-free Delaware, and King of Prussia are all within approximately 30 minutes, making this a fantastic location for commuters and travelers alike.
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.
