Don't miss the chance to call this stunning 4-bedroom condo your new sanctuary! Nestled in the charming neighborhood of Yorkshire Village, this property is perfectly situated just moments away from delightful shopping and dining options, making it an ideal place for those who love convenience and community. As you step inside, you'll be greeted by a warm and inviting main floor family room, complete with a cozy fireplace that creates the perfect ambiance for family gatherings and quiet evenings alike. The eat-in kitchen offers ample space for casual dining while providing a seamless flow into the combo living and informal dining area-perfect for entertaining friends or enjoying family meals. Venture downstairs to the finished basement, where you'll find a spacious rec room that can be transformed into your personal oasis-think movie nights, game days, or a quiet retreat for reading. The laundry and utility rooms add convenience to your daily routine, plus a half bath ensures comfort and privacy for guests. Step outside to your lovely fenced exterior patio, a serene space for morning coffees or evening BBQs under the stars. With a two-car garage, you'll have plenty of room for vehicles and storage, making life just a little bit easier. This home boasts a new roof and shingles installed in 2016, giving you peace of mind for years to come. Plus, you'll enjoy the benefits of low association fees that cover lawn service, snow removal, and access to a wonderful community pool-perfect for those hot summer days. Don't let this opportunity slip away! With its ideal location and inviting features, this condo is more than just a property; it's a place where memories are made. Schedule your showing today and envision the life you could live in this beautiful 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.
