Updated, Occupied & Already Generating Cash Flow, this Versatile Property presents an Exceptional Turnkey Investment Opportunity OR the Perfect Solution for Multi-Generational Living! Located in Catasauqua Borough, this Charming Detached Brick Home offers Timeless Curb Appeal with a large covered front porch, a fenced backyard and peaceful views of the Tree-Lined Neighborhood.. ideal for enjoying your morning coffee or unwinding at sunset! Inside, luxury vinyl plank flooring extends throughout the home creating a cohesive & modern feel. The first floor features an inviting Eat-In Kitchen with Updated Cabinetry, Butcher Block countertops and Peninsula Seating that flows seamlessly into the living area. A private side entrance leads to a convenient mudroom/laundry room. Two bedrooms and one full bath complete the main level, with one bedroom currently utilized as additional living space. Basement access from the kitchen provides ample storage. The second floor offers exceptional flexibility with two more bedrooms, another full bath, a spacious living room filled with natural light, built-in shelving and a second eat-in kitchen with its own laundry area—ideal for extended family or potential rental use. The third floor expands the living space even further with a 5th bedroom and a generously sized bonus room perfect for a home office, playroom, fitness area or additional living quarters. Whether you're looking to expand your investment portfolio or accommodate extended family under one roof, this well-maintained income-producing property offers endless possibilities! New Natural Gas Boiler installed 2019 serviced 2026. New Hot Water Heater 2020. Ask to view the Full List of Upgrades & Budget Billing Utility Sheet. Open House Fri 6/19 5:30-7:30pm and Sat 6/20 12-2PM.
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.
