Click on the video for an up-close tour! Sometimes you enter a house and just know its home! This will be that moment! This home in the desirable Pensbury School District offers so much! The natural light is such a welcome feature of this wonderfully and carefully maintained home. The brightness compliments the open and flowing floor plan. The huge Bay Window in the living room not only brings the light in but adds to the open and expanded feel. Don’t miss the large coat closet at the entrance, it is a added surprise. The dining area has extra flex space to allow for whatever you need it for. You will enjoy the clean lines of the white subway tile black splash in the generously sized lovely kitchen. Stainless appliances are the perfect fit for this “chef’s kitchen”. In addition to 3 bedroom and 2 full baths, there is SO MUCH additional space and storage, it will make you smile! The enclosed carport area serves as additional space for hobbies, such as a home gym. Right off the gym is a dedicated “workshop” room. There are two hallway closets and two attic areas. Off the kitchen is a laundry room area that leads to the BASEMENT, (practically unheard of in a Fairless Hills rancher)! If you’re looking for more storage… wish granted! There are two sheds with electric service out back! After falling in love with the inside, its time to fall in love with the peaceful and private back yard. The seller has added 17 trees to create the most aesthetically pleasing privacy. The patio is the perfect place gather and end each day with the beauty and sounds of nature all around you! Great commuting via Route 1, 95 and the turnpike. You are close to shopping, dining, Sesame Place, Falls Township Community Park. To sum it all up, WELCOME HOME!
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.
