Professional pictures and floor plans coming soon. This charming Colonial-style home beautifully renovated in 2021, offers a perfect blend of classic elegance and modern comfort.This residence features four spacious bedrooms and three and a half bathrooms, making it an ideal retreat for those seeking both style and functionality. Step inside to discover a warm and inviting interior, highlighted by rich hardwood floors and luxurious vinyl plank throughout the main living areas. The traditional floor plan flows seamlessly, featuring a formal dining room perfect for gatherings and a cozy family room that opens to the kitchen. The eat-in kitchen is a chef's delight, equipped with modern appliances including a built-in microwave, dishwasher, and electric oven/range, all designed to make meal preparation a breeze. Enjoy casual dining in the breakfast area or at the kitchen table space, bathed in natural light from the insulated replacement windows. The home boasts a fully finished basement, providing additional living space for recreation or relaxation, along with a dedicated laundry area. The main level features a charming fireplace with a mantel, creating a focal point for cozy evenings. Each bedroom is generously sized, with the primary suite offering a walk-in closet and an en-suite bathroom for added privacy. Outside, the property is equally impressive. The 0.23-acre lot features a lovely deck and patio, perfect for outdoor entertaining or enjoying quiet moments in the fresh air. The attached garage accommodates two vehicles, with additional driveway space for guests. The neighborhood is well-connected, with a bus stop less than a mile away, making commuting a breeze. Residents benefit from access to excellent public services and schools, ensuring a supportive environment for all. This home is not just a place to live; it's a place to thrive. Experience the perfect combination of comfort, style, and community in this exceptional property. Roof, windows, patio door, A/C, water heater, garage doors and many other items have been replaced in the past 5-6 years or so. Don't miss the opportunity to make it your own!
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.
