Move in ready! Enjoy this impeccably 3 levels Colonial house in convenient Broadview Community.. Approx 3,300 sq ft of living space, this one checks all the boxes. Open room flow of the kitchen, morning room and family room are simply perfect. French doors from the morning and family room lead to the screened deck and paver's patio. The kitchen features recent quartz countertops, plenty of cabinet space and so much natural light. The morning room windows have full view of the rear yard and a skylight to let even more sunlight in. The family room has recessed lighting and built in bookshelves. The foyer, kitchen, powder, family and morning rooms have hardwood flooring. . The primary bedroom is spacious and features 2 separate closets with an in-suite bath. The second bedroom features a board and batten accent wall. A guest room and office/bedroom round out the upper level. The lower level offers a recreation room with a walk-in closet, built-in bookshelves, a handy wet bar, bar seating for 5+ people and a beverage refrigerator. The laundry area has built-in storage shelves and is super spacious. In the rear of the lower level there is a multi-purpose large room with cabinetry perfect for a workshop, craft area, toys or bonus storage area along with a rear exit to the yard. There is no shortage of space or storage in this home. The oversized 2-car garage also has built-in storage and a convenient rear exit door leading to the patio area. This home has a high-efficiency gas furnace, in 2021 the A/C condenser and evaporator coil was replaced. Washer/dryer (2021). There is a shed in the rear yard, the roof was replaced in 2008 with 50 yr shingles, an attic fan, plantation shutters in the living and powder room and all windows are double hung. This home is spacious, updated, comfortable and surely not one to miss. The fully fenced backyard offers privacy and the perfect space for entertaining, outdoor activities, and everyday enjoyment.
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.
