An exceptional opportunity awaits at 4463 Boyd PL in WESTFIELD! This single-family residence, constructed in 2018, presents an attractive property in great condition, spanning two stories and offering a substantial living area of 2763 square feet. Inside, an open floor plan for the kitchen/living room area enhances the sense of spaciousness. The heart of culinary creation resides in a kitchen meticulously designed for both aesthetics and utility. Featuring a stunning backsplash, stone countertops, and shaker cabinets, this space is further enhanced by a large kitchen island that serves as a focal point for gatherings. A convenient kitchen bar provides an ideal setting for casual dining or engaging conversation. There is also a built-in workspace right off the kitchen for daily bills or kids homework! An inviting living room offers a comforting ambiance, centered around a sophisticated fireplace, perfect for cultivating a serene retreat. The Primary Bedroom is very large and features an ensuite bathroom, creating a private retreat. Additionally it includes 2 walk-in closets, offering substantial storage solutions. This expansive residence offers five bedrooms and three full bathrooms, providing plenty of space for a large family or a growing one. The guest bathroom upstairs is equipped with a rejuvenating walk-in shower and a double vanity, providing both comfort and utility. One of the bedrooms is on the ground floor with a full bath right next to it ideal for guests or multi-generational family options. The exterior is graced by a 3 car garage and charming porch, providing an ideal spot for relaxation. The property rests upon an ample POND lot, offering a completely fenced in yard to let the kids or pets play. This residence represents an ideal setting for a growing family or someone who just want the space with no neighbors on top of you! All this within the Exceptional Westfield School District, come check it out 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.
