Welcome to 4111 W. 220th St. in Fairview Park an architecturally rich 4 Bed/1.5Bath home nestled behind beautiful mature trees, lush landscaping, and a charming front porch. Thoughtful exterior details, stone accents, and gridded vinyl windows create an inviting presence from the street. A long concrete driveway leads to a spacious two-car garage with electric, storage cabinets, a loft above, and an attached greenhouse. The fully fenced backyard is a true sanctuary with multiple ponds, a small footbridge, extensive landscaping, firepit area, and generous green space. A grand stone side entry brings you into the showstopping rear addition.. an airy, light-filled great room with vaulted cathedral ceilings, a striking stone fireplace, mural centerpiece, and a full wall of oversized windows. A cozy nook offers space for a family room, home office, or flex area, plus a large system-organized closet currently used as a pantry. The galley kitchen has high ceilings and opens to the stunning formal dining room, complete with hardwood floors and a beautiful brick fireplace. The front of the home features an impressive foyer with arched architectural details, curved ceilings, built-ins, artistic glass shutters, and a modern Sputnik chandelier. A study/bedroom off the foyer includes a closet and custom shutters. An updated half bath showcases a dramatic vessel sink and elegant lighting. Additional first-floor bedroom offers a deep closet and designer wallpaper. Upstairs, a full bath features an oversized vanity, expansive footprint, tile-surround tub/shower, and a large linen closet. A huge, clean crawlspace provides exceptional storage or potential finishing options. Basement waterproofed in 2023; updated electrical; 2020 hot water tank. BRAND NEW roof (2022). A truly unique, character-filled property offering space, charm, and endless possibilities. Enjoy our attached video tour and book your exclusive showing today!
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.
