Check on the HUD site for availability prior to showing. BROKER must register AGENT on www.hudhomestore.GOV --PRIOR to placing a bid. You will need your brokers NAID number and your current real estate license number to register. Call Listing agents if you need assistance. There are NO FEES to register. $1,000 EMD bank check or Money Order payable to choice of title company on this property. Must be delivered to LISTING BROKER / CENTURY 21 ADVANTAGE GOLD Corporate Office, 1708 WELSH RD,, PHILADELPHIA, 19115 (conveyancing dept.)within 48 hours of bid acceptance by HUD.. DOC-U-SIGN Contract information is due within 48 hours. Case #446-417026- 3411 Chippendale Ave , Philadelphia Pa. 19136, MUST APPEAR ON THE FACE OF THE BANK CHECK OR MONEY ODER.. Check on hudhomestore.com site for availability prior to showing. Agent must register PRIOR to placing a bid. $1,000 EMD bank check or Money Order payable to CENTURY 21 ADVANTAGE GOLD. Must be delivered within 48 hours of bid acceptance by KMM/HUD . DOC-U-SIGN Contract INFORMATION is due within 48 hours. THE AGREEMENT OF SALE DOC-U-SIGN WILL BE PREPARED FOR YOU BY HUD. DO NOT PREPARE ANY AGREEMENTS OF SALE. It's done for you by HUD. No personal checks will be accepted. You may deliver the EMD BANK check or Money Order by over-night mail USPS, UPS overnight, Fed-ex over-night. Suggest you hand deliver and get a receipt as the agreement of sale will not be sent to you unless we have the actual physical check in hand! MUST HAVE TRACKING NUMBER. No personal checks will be accepted. You may deliver the check to our office or send over-night mail USPS, UPS overnight, Fed-ex over-night with a tracking number. DELIVER EMD CHECKS TO THE LISTING BROKER ONLY & NOT TO THE TITLE COMPANY.....Contracts will NOT be sent to you unless LISTING BROKER COMPANY has the original, physical check IN HAND . OWNER OCCUPANT BUYERS ARE INVITED TO PLACE BIDS TODAY, WILL BE OPENED ON DAY 6 OF THE LISTING AND REVIEWED EVERY MORNING OF THE BUSINESS WEEK.. IF A HOLIDAY OR SATURDAY OR SUNDAY, THEN OPEN ON THE FIRST BUSINESS DAY. Bids close at 11:59 PM- CT. Any questions please text Ron or Hana. Remember, you are on the clock!!! . Needs SERIOUS work. The FHA203-K $100 down-payment mortgage is available on this property only to OWNER OCCUPANTS. This means you can take all the repairs and most of the improvements can be added into the same $100 down mortgage program. Remember - very important -- BUYERS PAY BOTH SIDES OF THE TRANSFER TAXES. Questions? Call Listing or co-listing agents (Ron Rudolph or Hana Lapteff) for clarification. ALL BIDS OPENED AND CONSIDERED THE NEXT BUSINESS DAY. The winning bid is considered as HIGH NET WINS- EVERYONE ELSE LOSES. The easiest way to find out the answers to your questions is to pick up the phone and call either of us. Once again, the United States Government, Department of Housing & Urban Development (A/K/A/ HUD) is the owner of this asset. Offered at $216,500
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.
