Nestled in the heart of the charming Brooklyn neighborhood, this exquisite Colonial townhouse exudes timeless elegance and modern comfort. Built in 1943, this residence seamlessly blends classic architectural details with contemporary living, creating a warm and inviting atmosphere that feels like home from the moment you step inside. As you enter, you are greeted by a spacious and thoughtfully designed layout that maximizes every inch of its 810 square feet. The fully finished basement offers a versatile space that can be transformed into a cozy den, a home office, or a personal gym-perfect for those seeking a sanctuary to unwind or pursue hobbies. The main living area is bathed in natural light, highlighting the rich brick exterior and inviting you to relax and entertain. The open concept design flows effortlessly, making it ideal for gatherings with friends or quiet evenings at home. The well-appointed kitchen is ready for culinary adventures, featuring ample counter space and a layout that encourages creativity. Retreat to the two generously sized bedrooms, each offering a peaceful haven for rest and rejuvenation. The full bathroom is tastefully designed, providing a serene space to start and end your day. Outside, the property boasts a low-maintenance exterior, allowing you to spend more time enjoying the vibrant community and less time on upkeep. On-street parking ensures convenience for you and your guests, while the surrounding neighborhood invites leisurely strolls to nearby parks, cafes, and local shops. Living in this Brooklyn townhouse means embracing a lifestyle of comfort and accessibility. With no pool to maintain, you can focus on enjoying the rich tapestry of experiences that this vibrant area has to offer. Whether it's exploring the local art scene, indulging in culinary delights, or simply enjoying the charm of tree-lined streets, this home is perfectly situated to enhance your everyday life. Experience the perfect blend of luxury and comfort in this stunning Colonial townhouse-your new chapter awaits.
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.
