Why rent when you can own this beautiful detached home in Delran Twp School district! Nestled in a serene corner lot, this charming bungalow exudes warmth and character, offering a perfect blend of modern comfort and classic appeal. With a major renovation completed in 2014, this home has been thoughtfully updated while retaining its original charm. Step inside to discover a spacious interior that boasts 1,444 square feet of well-designed living space. The heart of the home features an eat-in kitchen equipped with stainless steel appliances, including a gas oven/range and a refrigerator, perfect for culinary enthusiasts. The kitchen's layout encourages gatherings, while the cozy ambiance is enhanced by ceiling fans that circulate gentle breezes throughout the home. The flooring transitions seamlessly from plush carpeting to elegant laminated surfaces and durable tile, ensuring both comfort and style in every room. Natural light pours in through replacement vinyl-clad windows, creating a bright and airy atmosphere that invites relaxation. The exterior of the property is equally impressive, showcasing a well-maintained yard that spans 0.27 acres. The corner lot offers a level landscape with a front yard that welcomes you home, while the rear and side yards provide ample space for outdoor activities or serene moments of solitude. Enjoy evenings on the inviting porch or entertain guests in the gazebo, surrounded by thoughtfully placed exterior lighting that enhances the outdoor experience. Additional features include a full unfinished basement, providing endless possibilities for customization, whether you envision a home gym, workshop, or additional storage. The property also includes a convenient shed for gardening tools or outdoor equipment, ensuring that your outdoor space remains organized and functional. Parking is a breeze with a spacious driveway accommodating up to two vehicles, making it easy for you and your guests to come and go with ease. Experience the perfect blend of comfort, practicality and outdoor enjoyment in a property that truly feels like home. Embrace the opportunity to own this homey bungalow, in a great neighborhood with no HOA fees. Home was fully renovated in 2016 with updated electric, new HVAC, vinyl replacement windows roof 2014 The current homeowner is paying approx $2000/yr for flood insurance. Still a great deal with such reasonable taxes
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.
