Welcome home to this charming mid-century solid brick ranch full of character, space, and potential. Situated on an oversized lot on a quiet, centrally located block. This well-loved home offers comfort, natural light, and plenty of room to grow. Inside, you’ll find an open floor plan with lots of light throughout the home, creating a warm and inviting atmosphere that’s perfect for plants, relaxing evenings, or entertaining guests. The main level includes a bonus room with a separate entrance, ideal for a home office, studio, or man cave, along with an additional flexible space that can serve as a large dining area or second bonus room. The main level also includes laundry hookups, offering convenient main-floor laundry if desired.The huge full basement offers even more living space, featuring a family room, laundry area, two bedrooms, and a full bathroom, a clean slate ready for your personal touch. Lots of storage. Step outside and enjoy the home’s wonderful outdoor spaces, including a private covered front porch perfect for relaxing evenings, a covered back patio for entertaining, and a large yard with plenty of room for gardening, pets, and gatherings. The property also features a dog run, making it ideal for pet lovers. Car enthusiasts, hobbyists, or anyone with extra vehicles will appreciate the oversized heated two-car garage with an attached shed, extra parking, and a long driveway, perfect for work vehicles, trailers, or guests. Major updates already completed include new A/C, new HVAC system, and a radon mitigation system. The home may need a little updating, but it has been priced accordingly and offers incredible potential to make it your own while preserving its beautiful mid-century design. This cozy yet spacious brick ranch is full of natural light, charm, and opportunity, perfect for anyone looking for a solid home with room to entertain, garden, and create their dream space. ASSUMABLE LOAN! 2.385% Assumable interest rate is invaluable.
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.
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