Welcome to 4142 Cleveland Avenue, a beautiful 1908 brick home in the heart of Shaw—one of St. Louis’ most beloved neighborhoods. Offering 3 bedrooms, 1.5 baths, and a layout that balances original character with everyday functionality, this home is perfectly positioned for enjoying everything city living has to offer. Inside, you’ll find inviting living spaces filled with natural light, timeless details, graceful wide archways, and plenty of room to relax and entertain. The entry showcases the original wood staircase and hardwood floors. The living room features a gas fireplace with a striking period mantel, while the dining room impresses with its stunning ceiling details. The kitchen pairs classic black, white, and oak finishes in a way that feels updated yet congruent with the home’s era, featuring quartz countertops and modern appliances. Step outside to a covered deck, then continue onto the patio for outdoor dining and entertaining. An exterior natural gas hookup makes grilling easy, and the wooden playset was thoughtfully designed to one day be transformed into a pergola. The fenced backyard offers space for pets and play, plus a convenient two car parking pad. Back inside, a powder room completes the main level. Upstairs, you’ll find three bedrooms including a primary with access to a covered balcony—the perfect spot to enjoy a sunrise, sunset, or both. The second bedroom features a decorative fireplace, while the third bedroom is ideal as an office or nursery and overlooks the idyllic tree-lined street. The full bath features a large frameless backlit anti-fog mirror. The walk-out basement provides abundant storage with built-in shelving and includes LG front-loading washer and dryer (2024). Major updates include a high-efficiency HVAC system installed in 2024, water heater replaced in 2025, modern refrigerator, and a new roof in 2026. The location is hard to beat. The home is located within the highly regarded City Garden Montessori public charter school boundary and is walking distance to St. Margaret of Scotland. Just half a block away, you’ll find neighborhood favorites Well Met Cafe and The Gallery Pub, the latter known for its regular live music performances. Less than a 10-minute stroll from Tower Grove Park, Missouri Botanical Garden, and local favorites like TeeRak Thai, Fiddlehead Fern Cafe, and Ices Plain & Fancy, you’ll enjoy the walkable lifestyle that has made Shaw one of the city’s most sought-after communities. Lovingly maintained and full of character, this home is ready for its next chapter.
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.
