Welcome home to this charming and affordable updated rowhome in the heart of desirable Port Richmond! Perfect for first-time buyers, young professionals, or anyone looking for an incredible value in one of Northeast Philadelphia’s most convenient neighborhoods. This freshly updated 2-bedroom, 1-bath home offers modern finishes throughout while keeping the character that makes Port Richmond so special. Step inside to find a bright, open living space with fresh paint, new flooring, and updated lighting. The kitchen has been nicely refreshed with contemporary cabinetry, countertops, and appliances—ready for you to cook and entertain. Upstairs you’ll find two generously sized bedrooms and a full bathroom that has also been updated. The home is move-in ready with recent improvements that allow you to skip the big renovation projects and start enjoying your new home right away. Why Port Richmond? Walk to the best local spots: Blue Blood Brewing, The Wharf, multiple parks, and the Delaware River Trail Quick access to I-95, the Betsy Ross Bridge, and public transportation Minutes to Fishtown, Kensington, and Center City Strong community feel with playgrounds, corner stores, and friendly neighbors At $225,000, this is one of the best-priced updated homes in the neighborhood. Whether you’re looking for an affordable place to live or a solid investment property, 3274 Emery Street checks all the boxes. Don’t miss out—homes like this move fast in Port Richmond!
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.
