Welcome to Cherry Hill Estates, one of Cherry Hill's most established and sought-after neighborhoods! This spacious and beautifully maintained split-level home offers 4 bedrooms, 2.5 bathrooms, plus a versatile bonus flex room that can easily serve as a 5th bedroom, home office, gym, or playroom. From the moment you step inside, you'll appreciate the custom details that set this home apart. Stunning cross-hatch hardwood flooring, engineered hardwood, and decorative tile flow throughout the home, creating warmth and character at every turn. The well-appointed kitchen features granite countertops, stainless steel appliances, and plenty of space for preparing meals and gathering with family and friends. Just off the kitchen, step outside to an expansive deck overlooking an incredible backyard oasis. Whether you're hosting summer barbecues, enjoying your morning coffee, or relaxing under the stars, this outdoor space is designed to be enjoyed year-round. The beautifully crafted paver patio adds even more room for entertaining and making memories. Inside, you'll find generous room sizes, abundant closet space, a partially finished basement for additional living or recreation space, and a two-car garage offering convenience and storage. Beyond the home itself, you'll love the location. Cherry Hill is known for its beautiful parks, vibrant dining scene, premier shopping destinations, and easy access to Philadelphia, major highways, and public transportation. Cherry Hill Estates offers a peaceful neighborhood setting while keeping you close to everything South Jersey has to offer. Homes with this combination of space, character, location, and flexibility don't come along often. Schedule your private tour today and discover why this could be the perfect place to call 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.
