Welcome to 2609 E Norris St, a custom renovation in Fishtown! .. As you enter, you will notice the open floor plan spanning almost 60 feet deep and nearly 16ft wide on the first floor …. the family room is complete with engineered hardwood flooring, custom tv area build-out, a separate bar area with tiled backsplash and glass shelves - plus custom stairs created with original hardwood joists that are over 100 years old. Make your way through the separate dining area to the heart of the home, the custom extended kitchen with accordion style wall system doors and tile flooring. Porcelanosa cabinets from Spain will catch your eye as you enter, complete with undermount lighting, dishwasher panel, and soft close feature, accented by quartzite countertops and a glass subway backsplash. The island was created with a custom large format tile base and a poured concrete countertop, complimented by a coffee nook area and a wall mounted television. The kitchen also features stainless steel appliances including a Samsung gas stove and Fisher & Paykal refrigerator. The fenced in backyard can be accessed by using the single door feature on the accordion doors. .. the first floor also features a conveniently located half bath with pocket door and floating vanity, as well as basement access and another door on the side for bins or outdoor storage. As you pass the exposed brick wall on your way to the second floor you will have access to two bedrooms, a linen closet and full bath. The bath was designed with marble flooring, large format porcelain wall tile, and a floating vanity with stone backsplash. Your final area, the 3rd floor, is complete with a modern style open concept living. The bedroom features a centered tiled closet and bathroom, and a tile floor area with double custom floating vanity, tile backsplash, opposite a large walk in shower with city views! This home has many other available features including two hvac systems, fireplace ready gas line below 1st floor bar area, 4" recessed lighting throughout, framed out basement ready to be finished to your liking, new 2nd floor roof and exterior siding, plus close access to Frankford/Girard/York St & Aramingo Ave. Make your visit today.
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.
