Discover the perfect blend of convenience and comfort in this 4-bedroom, 2.5-bathroom home with 1.91 acres at 5021 Brook Ln, Mohnton, PA. The convenience to access Rte. 222, 422 & PA Turnpike is moments away. Upon arriving at this residence, you'll notice the inviting atmosphere of this property, from the majestic home and the beauty of the land. This home has a new look with the stunning vinyl siding and transom windows, a manicured lawn. Let's head inside for a tour! There is a 2-story foyer with a arched window for plenty of natural lighting. A dining room on your right with French doors, hardwood flooring, crown molding and chair rail. On the left is a formal living room, French doors, fireplace. continuing on to your left, coat closet, powder room, family room, and storage area under the stairs. Off to the right, laundry room w/ample cabinet space, sink, and access to the lower -level, oversized garage/basement. Moving straight ahead is the kitchen, equipped with an island, stainless steel appliances, flows into the dining area and family room, access to the enormous wood deck! A split staircase leads to the 2nd-story. with a beautiful view looking out the arched window, 3 generous size bedrooms, hallway bathroom, a spacious Primary suite w/en-suite, walk-in closet. The house is partially equipped with solar panels. The large deck and fire pit area is great for a gathering with friends or just to enjoy the ambiance of the inviting atmosphere and much more! Schedule 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.
