JUST LISTED: Move-In Ready 4-Bedroom Oasis on a Quiet Lawnside Street Welcome home to 26 E Phoenix Ave, where modern convenience meets tranquil living. This stunning single-family home has been totally renovated just five years ago, offering a truly move-in ready experience that today's discerning buyers desire. Situated on a quiet street with a generously large, private lot, this property is an exceptional find in the Lawnside market. Property Highlights Move-In Ready Condition: Enjoy peace of mind knowing the home was fully updated just five years ago, meaning major systems and finishes are modern and well-maintained. Newer boiler. HWH 3 years old. Kitchen has granite countertops and soft-close doors and drawers. New front-load stacked washer and dryer. Flexible Living Space: Featuring four generous bedrooms and two and a half updated bathrooms, the highly functional layout includes a sought-after first-floor bedroom and a full bathroom, perfect for an in-law suite, guest quarters, or a dedicated home office. Private Outdoor Retreat: The large, private lot with large back deck offers ample space for outdoor entertaining, gardening, or relaxation. Create your own perfect patio setup for barbecues and gatherings in a park-like setting. Ample Storage: A full basement provides significant storage space, a feature highly valued by growing families. Desirable Location: Located on a quiet residential street, this home offers a peaceful environment while remaining conveniently close to amenities and local transportation routes, making it appealing for commuters. The Perfect Blend of Comfort and Style Step inside to an inviting atmosphere with a seamless flow that appeals to a wide variety of buyers. The updated bathrooms and ample space in each bedroom ensure comfort for all residents. This home's condition and features are designed for immediate enjoyment, allowing the new owners to simply unpack and settle in. Don't miss this rare opportunity! Given the high demand for well-maintained, flexible living spaces in New Jersey, this home is expected to attract significant interest.
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.
