Welcome to this bright and inviting single-family home in a transit-friendly Bayonne neighborhood, just minutes from shopping, parks, schools, and major commuter routes. BOAsting approximately 1,888 square feet of living space, this home offers five spacious bedrooms and one and a half baths. Step inside to discover a welcoming layout with a generous living and dining areas that flow into a large eat-in kitchen. Natural light fills the space, and the kitchen features quality finishes that make daily living a pleasure. Step out through the kitchen to your beautiful gazebo-covered backyard, ideal for outdoor entertainment. Upstairs, find ample bedroom space on two levels, providing plenty of room for everyone to spread out.Excellent Access to Transit: Located near numerous public transit options including bus routes and just a short ride to the hudson-Bergen Light Rail. Nearby Parks & Recreation: Enjoy access to green spaces such as Stephen R. Gregg Park and Collins Park for outdoor activities. Local Schools: This home is served by the Bayonne School District, with nearby options including Washington No. 9 Elementary, Woodrow Wilson No. 10, and Horace Mann No. 6 Elementary all within about a half-mile or less as well as Bayonne High School a short distance away. Parking - Two cars max can be registered through the city $150 each, two parking spots right in front of house. Seller also has permit to build two car driveway in front of house. Permit expires 05/2026
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.
