Welcome to this beautifully renovated 2-story townhouse in the heart of Allegheny West. This charming home features three spacious bedrooms, each with its own closet, and one full bathroom on the second floor. As you enter, you are welcomed into a bright living room, followed by a spacious dining area and a well-appointed kitchen. The kitchen provides access to both the fenced-in rear yard and the full unfinished basement, offering convenience and additional storage space. Enjoy the elegance of wood flooring throughout the first and second floors. The covered front porch adds charm and a perfect spot to relax. The property qualifies for the CRA program, offering a conventional loan with no mortgage insurance. This home is conveniently located near a variety of dining options, including New Garden, House of Chan, Monique's Lounge, Kam Sen Restaurant, and more. With a full priced offer the seller will include a 13-month HWA home warranty to help provide peace of mind. For education, nearby schools include Thomas M. Peirce School, John G. Whittier School, St. Martin De Porres School, and Dobbins AVT High School, among others. Grocery shopping is a breeze with Jocelyn Grocery, Espinal Food Market, A&E Grocery, and Young's Market all within close proximity. Commuters will appreciate being just nine minutes from the Manayunk/Norristown Line at the Allegheny stop. Outdoor enthusiasts can enjoy nearby parks such as Connie Mack Stadium, Reyburn Park, and Marcus Foster Memorial Stadium. Don’t miss this move-in-ready home in a convenient location. 📍 Schedule your showing 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.
