Located in the historic Shipoke District, 329 S Front Street is a beautiful, Federal-style brick home built circa 1856, offering a rare combination of documented history and proven short-term rental performance. The home is historically recognized as the former residence of Civil War Brigadier General Joseph F. Knipe, with an official historical marker located on the building and directly across the street. The property is a single family home, which is extremely rare in downtown Harrisburg. It offers approximately 2,376 square feet across three finished levels, featuring five bedrooms and 1.5 baths, and is being sold fully furnished and turnkey for continued use as a short-term rental or historic-home lover. Currently operating as a successful Airbnb, the home has earned over 100 guest reviews with a 5-star average rating, demonstrating consistent demand and guest satisfaction. Period features include original pine floors, tall ceilings, a grand open front staircase, secondary rear staircase, original doors and trim, and a clawfoot tub, paired with functional updates suited for modern living and hosting. Systems include natural gas heat, public utilities, and a metal roof, offering durability and long-term value. Outdoor amenities include a private fenced rear courtyard, brick patio, second-floor balcony, and garden space. The Front Street location provides proximity to the Susquehanna River, Riverwalk, downtown Harrisburg attractions, and major roadways—appealing to both guests and owner-occupants. Public and permit parking options are available nearby. The adjacent parcel is currently owned by UPMC and was previously offered for sale to the current owner. Contact information for the parcel owner is available for buyers interested in potential future acquisition for use such as green space, parking, or a garage. An exceptional opportunity for investors seeking a fully operational, income-producing short-term rental, or for buyers looking to own a distinctive historic 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.
