THE SELLER IS OFFERING A $5,000 CREDIT TOWARDS THE BUYERS CLOSING COSTS. Discover this exceptionally charming and spacious home in the lovely Collingdale neighborhood which sits on a large and is ready for new owners to call this their home! This turnkey pre-inspected house has so much to offer! Starting from the 3 car drive way, to the wrap around front porch, a large 2nd floor deck, and all the way to the finished garage – truly a unique home that is one of a kind! As you approach you are welcomed by the cozy wrap around front porch perfect for enjoying a nice cup of coffee and saying hi to the neighbors. From there, you enter through a vestibule and have the living room off to the left, steps to the second floor directly in front of you, and the dining room off to the right. The original hardwood floors flow through out the first and second floor exuding pure elegance. You are going to love the living room which is the perfect place entertain friends and family for special gatherings. On the other side of the stair well is the stunning dining room where you can enjoy delicious meals with your loved ones. Just beyond the dining room is a lovely sitting area that has windows on all three walls filling the space with tons of natural light. Even further past the dining room is where you will find the well appointed kitchen which is every chef’s dream! You will be in awe of how much cabinet and countertop space there is to offer. On top of that, this kitchen is well equipped with to of the line stainless steel appliances such as an oven/range, microwave, refrigerator, and wine cooler. This set up is truly unmatched with all types of culinary activities being possible. To complete the first floor is a full bathroom that has a tub/shower, vanity, and toilet. The second floor is where you will find the generous main bedroom with excellent closet space, plus three additional bedrooms and a well-appointed hall bath with a custom-tiled tub surround. One of the bedrooms has been transformed into a dream walk-in closet —perfect as-is or easily converted back into a full bedroom with its original deep closet. This room connects to the fourth bedroom, which opens to a second-story deck. This layout presents an ideal opportunity to create a private suite. The full basement provides additional space with a laundry area and two separate rooms, offering endless potential for storage and hobbies. Step outside and enjoy the expansive outdoor space, complete with front, side, and large rear yards ready for entertaining. The detached barn house has been upgraded into the ultimate den, featuring power, space for a bar, and plumbing beneath the structure—offering potential for further development or even conversion to a second dwelling unit with township approval. This property qualifies for CRA financing 3% down, no PMI, and interest rate lower than FHA. Located just 17 minutes from the Route 13 line at the 10th St & Main St stop, this home also sits near Collingdale Park, Tully Memorial Field, and Sharon Hill Athletic Fields—providing easy access to recreation, green spaces, and community activities. Spacious, versatile, and full of potential, this Collingdale gem is ready to welcome its next owner. Schedule your tour 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.
