Welcome to this enchanting Cape Cod cottage located in beautiful Spring Grove, Pennsylvania, where your Pinterest dreams can run wild. From the moment you step foot on this sprawling property, you'll be captivated by its picturesque beauty and timeless allure. This well maintained home boasts a generous 1,414 square feet of living space, providing ample room for you and your loved ones to create everlasting memories. Step inside, and be prepared to fall in love with the seamless blend of original hardwood floors and contemporary finishes. The warm and inviting living room, adorned with a cozy woodstove, beckons you to curl up with a good book on chilly evenings, while the abundance of natural light that streams through the windows bathes the entire space in a heavenly glow. And if you've ever dreamt of having your own farm-to-table experience, look no further than the backyard chicken coop, where you can raise your own chickens and enjoy fresh eggs every morning. Offering large mature Persimmon, Mulberry trees, Blackberry bushes, (2) Apple trees, a Peach tree and Pear tree. This captivating abode boasts three spacious bedrooms, each exuding a sense of comfort and elegance. The primary suite is very spacious. The remaining bedrooms, bathed in natural light, offer ample space for restful slumber or creative endeavors. Beyond the confines of the house, your imagination will run wild with the possibilities that this property holds. An expansive backyard, spanning over an acre, presents an idyllic canvas for outdoor entertaining and limitless adventures. Need not worry about the septic, new septic installed in 2022. Explore the lush grounds, envisioning your own secret garden or a tranquil meditation spot to escape the hustle and bustle of daily life. As if that weren't enough, this extraordinary offering also includes a three-car garage, a haven for car enthusiasts and hobbyists alike. The adjacent greenhouse and garden area provide the perfect opportunity to cultivate your green thumb, cultivating a bounty of fresh produce and colorful blooms, all within arm's reach. In this sanctuary of endless potential, the only limit is your imagination. Embrace the opportunity to create your own paradise, surrounded by the breathtaking beauty of Spring Grove. Don't miss out on this once-in-a-lifetime chance to own a slice of heaven – your dream home awaits!
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.
