4131 N County Road 500 E, Danville, IN 46122
4 beds · 2 baths · 2,436 sqft
Get a free consultation call with an expert in the mortgage assumption process.
A property you don't want to miss out on! Located near the B&O Trail and within the highly-rated Brownsburg Community School Corporation, this property features a primary residence, expansive secondary living space, and a massive pole barn, all connected by breezeways for seamless living. The primary residence offers 4 bedrooms and 2 full baths, complete with 2 gas fireplaces and a spacious kitchen. Enjoy relaxing or entertaining on the 20'x16' screened-in porch. The secondary living space, built in 2006, is perfect for multi-generational living, guests, or rental income. It features approx. 4000 sqft of living space, 3 full bathrooms, 2 kitchens, and 2 gas fireplaces. The first floor boasts 10' ceilings, large gathering areas, and a 24'x16' screened-in porch. This versatile space also includes laundry in the unit, offering convenience and flexibility. The 2320 sqft pole barn, built in 2022, includes a 6-car garage, built-in storage, and a heated pellet stove, providing comfort year-round. Outdoor amenities include a 33' above-ground pool with a 600 sqft deck, a 24'x24' basketball court, and a 24'x16' shed with a heated pellet stove and electricity. Enjoy evenings by one of the two fire pits, perfect for outdoor gatherings. This property is equipped with new windows installed between 2022-2023, and all HVAC units were updated in 2020. This one-of-a-kind property offers unparalleled space and flexibility, ideal for multi-generational living or those seeking room to grow - come experience it for yourself!
Source: MIBOR #22021324
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: MIBOR #22021324
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.