Welcome to 4 Creek Lane, ideally situated on the border of Mt. Holly and Pemberton. This charming ranch-style home offers peace and privacy on a secluded street just off Rt. 206, perfect for those seeking a quiet retreat with easy access to major routes. Designed with comfort and functionality in mind, this home is ideal for a small family that loves the outdoors. Natural light fills the interior, complemented by recessed lighting with smart switches for modern convenience. Enter through the inviting mudroom featuring original pavers, which leads into a bright eat-in kitchen complete with newer soft-close cabinetry and stainless steel appliances. The kitchen flows seamlessly into the family room, where you can enjoy tranquil views of the creek in the backyard. The spacious primary bedroom includes a convenient half bath. Down the hall, you’ll find a versatile bonus room and a large full bathroom featuring dual matching vanities and a generously sized shower. Pride of ownership is evident throughout, with recent upgrades including a new HVAC system and AC unit, the addition of a Tiger Loop for the oil burner, chimney repairs, and fresh interior paint. Step outside to your private backyard oasis, perfect for nature lovers. Relax on the enclosed porch, gather around for bonfires and s’mores, or take advantage of your private wood dock backing to the Rancocas Creek. Enjoy fishing for bass and catfish or explore the water by kayak or canoe. An added bonus: the property benefits from low taxes, helping to keep overall ownership costs down. Please note that flood insurance is required; the current owners pay approximately $300/month, though buyers should perform their own due diligence for exact costs and requirements. Don’t miss this unique opportunity to own a serene, waterfront retreat with modern updates and timeless charm.
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.
