Welcome to 408 Highland Avenue, a charming twin home nestled in the heart of Downingtown Borough, where character, convenience, and timeless style come together beautifully. Step into the inviting all-seasons front room, the perfect space to enjoy your morning coffee, unwind with a book, or welcome guests year-round. From there, enter into the bright and spacious living room where natural light pours through oversized windows, highlighting the original hardwood flooring, classic woodworking details, and the warm character that makes this home truly special. The formal dining area flows seamlessly into the large updated kitchen, offering both function and style with stainless steel appliances, granite countertops, a beautiful stone backsplash, and abundant cabinetry and prep space for everyday living or entertaining. Just beyond the kitchen, a rear mudroom with washer and dryer adds everyday convenience, along with a well-placed powder room completing the first floor. The second level offers two spacious bedrooms, including a warm and inviting primary bedroom, along with an updated full bathroom featuring a clawfoot soaking tub, tile stall shower, and tasteful finishes that blend vintage charm with modern comfort. Continue to the third floor where you’ll find an additional oversized bedroom, a second full bathroom, and a bonus flex room perfect for a home office, nursery, playroom, gym, or creative studio. Outside, the spectacular rear patio creates the perfect setting for entertaining, summer dining, or relaxing evenings overlooking the fenced backyard. A detached one-car garage provides excellent storage, along with two additional private parking spaces for added convenience. Located within walking distance to Beaver Creek Elementary, Downingtown Middle School, West High School, and the award-winning Downingtown STEM Academy, this home also places you just minutes from the heart of Downtown Downingtown with Kerr Park, the Struble Trail, local shops, restaurants, the train station, and major commuting routes all nearby. A perfect blend of location, charm, and functionality—408 Highland Avenue is ready to welcome you home.
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.
