THIS PROPERTY IS ELEGIBLE FOR THE START OF AN FHA SPOT APPROVAL. THE SPOT APPROVAL IS BASED ON AN INDIVIDUAL BUYER'S QUALIFICATIONS. BUYERS WILL STILL NEED TO APPLY AND QUALIFY FOR A SPOT APPROVAL WITH THEIR LENDER. MOVE IN READY!! WATER IS INCLUDED IN THE HOA FEES. YOU WILL NEVER HAVE A WATER BILL! ! ELIGIBLE 1ST TIME BUYERS COULD RECIEVE UP TO $10,000 IN CLOSING COSTS AND OR DOWN PAYMENT. SPEAK WITH YOUR LENDER. SELLER IS OFFERING A 1 YEAR HOME WARRANTY! LOCATION, LOCATION, LOCATION!!! This 3 story one bedroom 1 1/2 bath condo with a loft is centrally located near all major roadways Rt. 42, 295, White Horse Pike, Blackwood Clementon Rd, Black Horse Pike, shopping centers, restaurants, Camden County College, UMDNJ-School of Nursing and the speed line that goes straight into Philadelphia. This is a great property for a first time buyer, down sizer or an investor looking to add to their portfolio. This condo has it all including neutral decor and maintenance free living. No need to be handy, this association manages the exterior of the property including, siding, roofs, gutters, grass, snow removal, and community pool upkeep. This home has many upgrades along with a newly installed hot water heater in December 2024. This kitchen boasts with sleek white kitchen cabinets, neutral colored vinyl plank flooring, and a full stainless steel appliance package. Plenty of counter and cabinet space along with a pantry for additional storage. Adjacent to the kitchen is a dining area, that can accommodate a kitchen or dining room table. An open concept living and dining room area plus an upgraded half bath make this a great space for all of your entertaining needs. Up a flight of stairs awaits the ultimate primary bedroom with dramatic vaulted ceilings, 2 ceiling fans and 2 closets. Conveniently located across the hall is the laundry room, no need to go up and down the stairs to do laundry. This floor also has an updated full bathroom and plenty of storage space. Last but not least is the RETREAT AREA of this 3 story condo...THE LOFT! Perfectly situated on the 3rd level with a FIREPLACE!! Two large windows from the primary bedroom below flood this space with an abundance of natural light! Turn this loft into anything your heart desires! A work out area, a book nook, a Zen area, office, even put a spare bed or futon in this space...the possibilities are endless. This home is front facing and overlooks a large parking lot. Walk right out front into your vehicle and no assigned parking in this complex. This community has an in-ground pool for all residents to use in the summer months. There is also an on-site club house that residents can rent if they wish to host parties or events. No cutting grass or shoveling snow. There is nothing left to do except MOVE IN!!! Make your appointment 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.
