Welcome home to one of Indianapolis's most connected and community-rich neighborhoods - where walkability meets character, and every big-ticket item has already been handled for you. This lovingly updated home is truly move-in ready. Recent improvements include brand-new upstairs plumbing (under warranty), Lifeproof LVP flooring throughout the living room, dining room, and kitchen, fresh interior paint, a kitchen ceiling renovation, and a new garage roof. The furnace and water heater were both replaced in 2021 and remain under warranty, giving you serious peace of mind from day one. Downstairs, the finished basement is already set up for fun: a projector and soundbar are included, making it the perfect space for movie nights, game days, or hosting the whole crew.Outside, the city recently completed a full infrastructure upgrade to the water main, road, driveway apron, and sidewalk. The location is where this home really shines:+5-minute walk to Monon Trail access (one of Indianapolis's most beloved urban greenways for walking, running, and biking) +Short bike ride to Bottleworks District, SoBro (South Broad Ripple), and walkable to the Fred Douglass Golf Course +Steps from Frederick Douglass Park, which is currently expanding with new youth sports fields - a sign of a neighborhood investing in its future +Easy access to dining, nightlife, and local businesses along the Monon corridor. Whether you're a big family looking for tons of space to spread out (this home is massive!) or first-time buyer looking for a home that's already done right in a high-demand Indianapolis zip code, or a lifestyle buyer who wants walkable access to trails, parks, and local culture, this home checks every box.
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.
