Nestled in the charming Partridge Run community, this delightful quick possession twin home offers a perfect blend of comfort and convenience. With thoughtfully designed living space, this home features three inviting bedrooms and one and a half bathrooms, making it an ideal retreat for those seeking a cozy yet functional environment. Step inside to discover a welcoming interior adorned with a combination of parquet wood and brand new carpet flooring, creating a harmonious flow throughout. The traditional floor plan seamlessly connects the dining area and living space, perfect for entertaining or enjoying quiet evenings at home. The kitchen boasts new upgraded countertops and soft close cabinets, stainless steel appliances, recessed lighting, refrigerator included, 5 burner gas range and an efficient layout, making meal preparation a breeze. Natural light pours in through energy-efficient double-hung windows, enhancing the inviting atmosphere. The home also features practical amenities such as a step saver second floor laundry area equipped with a washer and dryer, ensuring convenience in your daily routine. Additional highlights include ceiling fan for comfort, newer heat and central air conditioning, smartly remodeled bathrooms and pull down attic stairs for extra storage. Outside, the property adjoins open space and backs to serene trees, providing a peaceful backdrop for outdoor activities. Enjoy the beauty of nature from your deck, where you can unwind and take in views of the lush woods and nearby creek. Parking is a breeze with an attached garage, a concrete driveway, and additional off-street spaces. The suburban location offers easy access to major roads and commuter rail stations within six miles, making it convenient for those who travel for work or leisure. The Partridge Run community is known for its friendly atmosphere and proximity to local parks, schools, transportation and public services. Residents can enjoy nearby green spaces for recreation and relaxation, fostering a sense of community and connection. With its inviting features and prime location, this home is a wonderful opportunity to embrace a lifestyle of comfort and convenience. The deck requires replacement decking & rails. Presently in poor condition. Buyer responsible for municipal C O and survey.
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.
