Tucked away on a quiet cul-de-sac in the amenity-rich community of Montclair, this beautifully updated home offers the kind of comfort and peace of mind buyers love—major systems have already been taken care of. Recent improvements include a new 50-yr architectural shingle roof, siding, and gutters (2019), new HVAC with Ultraviolet AirPurifier (2024), and a new hot water heater (2026), along with all new windows (Energy Efficient double-pane) and exterior doors. Out front, an enormous welcoming porch invites you to slow down and enjoy the neighborhood. The fully fenced backyard is flat and usable, offering room to play, garden, and gather. Inside you are greeted by handsome wide-plank hickory hardwood floors that span the main level, staircase and upper hallway. Note how clean and modern the ceilings appear now that all the texture has been removed. Bathrooms have been fully renovated, and the kitchen has been refreshed with granite countertops and all new appliances in 2024. The layout is ideal for everyday living and entertaining. The kitchen opens to the family room and doors that lead to the expanded back deck. On the opposite side of the kitchen is a generously-sized dining room that is joined by a large front living room complete with enchanting wood-burning fireplace. The upper level features four surprisingly spacious bedrooms. The Primary Suite has a bright and expansive walk-in closet and an ensuite bathroom that includes a vanity with extra counter space and an updated walk-in shower. The hall bath has also been renovated and includes a rare feature of natural light brought to you courtesy of skylights. It also features two separate sinks, adding to the functionality of the space. The unfinished lower level provides abundant storage today and exciting potential to expand your living space and build equity in the future. Homes with this level of care and updating—especially on a cul-de-sac lot—are hard to find. A short walk around the corner to the Omni Commuter Bus and all schools are within a 3-mile radius. Enjoy all the incredible amenities Montclair has to offer including a 109-acre stocked lake with sandy beaches, boat ramp, boat storage, fishing piers, playgrounds/tot lots, ball fields, exercise stations, new dog park, 18-hole golf course with full-service Country Club, ...the list goes on! Easy access to I-95 and nearby commuter lots/buses make it easy to commute to DC, the Pentagon, and beyond. Home is currently enrolled in a premium home warranty with the option to transfer to buyer at closing. BONUS, this is a Project My Home Approved Listing. Qualified buyers may be eligible for a fixed interest rate as low as 4.99% through the seller’s preferred lender program. Buyer must qualify and speak directly with lender for full details, program terms, and disclosures. Rate, APR, and program availability subject to borrower qualification and may change without notice.
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.
