If you love a historic home that has been meticulously maintained and upgraded, this is the one for you! The updates are complete, and you do not want to miss the opportunity to purchase this impressive home, which has already passed city occupancy! Just under 3,000 square feet, this classic beauty is ready for a new family to enjoy the timeless charm it offers. Prepare to be charmed by this colonial-style single-family residence nestled in the heart of Trenton. Character and quality are reflected in this stately vintage home on a large corner lot. Three covered porches and a balcony remind us to stop and reminisce. A large foyer welcomes you, showing all the original details, along with the very well-thought-out updates to the home, which these sellers did not miss a detail on. The kitchen offers custom-built cabinets, an eating bar, and more. The dining room and living room are generously sized and perfect for family or entertaining. You will appreciate the woodwork and stained glass windows in this home. The 2nd level houses four bedrooms. One bedroom opens to the upper-level balcony, and one has a sitting room. The third level features a generously sized primary bedroom and bathroom with skylights. There are dual heating and cooling systems. There is an oversized 2-car garage with a workshop area and a loft for all your toys or hobbies. This home has all the perfect updates while keeping the original charm of the home. This classic beauty is just a short distance from Scott AFB & about 30 miles to the metro St Louis area. Offering an abundance of desirable features, come see everything this lovely home has to offer for yourself! Original hardwood is under the carpet in the home! Connect with your preferred real estate agent today to schedule a visit!
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.
