Welcome to Arbor St. in Harrison Township, where Lake lifestyle meets comfort, privacy, and modern updates. Just 8 homes off South River Rd., this location puts you right in the heart of one of the area’s most sought-after boating communities. Enjoy immediate access to the Clinton River channels, leading directly out to Lake St. Clair, perfect for boating, fishing, and sunset cruising. With marinas and boat wells just steps from the end of the street, your lake life dreams are truly within reach. Inside, this 3 bedroom, 2 full bath home offers a spacious and inviting layout: Stunning 2-story great room filled with natural light Vaulted ceilings in oversized bedrooms Huge door wall leading to an expansive deck ideal for entertaining or relaxing outdoors in the completely fenced yard with no rear neighbors for added privacy. This home has been thoughtfully updated for peace of mind and modern living: Furnace & Roof (2015) Hot Water Tank (2020) All new plumbing Insulated crawl space Luxury vinyl plank flooring in kitchen, dining, and bedrooms *Appliances included* Complete with a 2-car detached garage, this property blends everyday convenience with a true Lake lifestyle without the waterfront taxes. Whether you're a boater, entertainer, or simply looking for a move-in-ready home near the water, this one 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.
