Welcome home to this charming residence nestled on a picturesque, treelined street that offers both beauty and a sense of community. From the moment you arrive, you'll be drawn in by the home's inviting curb appeal and warm welcoming presence. The front yard has been cultivated by a Permaculture garden specialist. This certified Monarch Waystation includes native flowering plants, a potted blueberry bush and 2 peach trees. At the front curb there's a mix of wildflowers and native flowers that bloom from Spring through Fall. Upon entering the home you'll find most rooms have been freshly painted providing a bright and clean canvas for your personal touch. Enter a large living room with hardwood floors, a gas fireplace for those chilly nights and lots of natural light during daytime hours. The hardwood floors continue through the formal dining room ideally situated between the living room and kitchen. The thoughtfully updated eat-in kitchen serves as the heart of the home. You'll find ample granite countertop space and handsome, classic wood cabinets and stainless-steel appliances. For your culinary skills there is a Jenn Air dual range/oven. This layout is perfect for both everyday living and entertaining. The spacious family room is conveniently located off the kitchen. From the kitchen you also gain access to the large, fenced backyard with a wraparound patio and shed. Also located on the main level is the laundry room with washer, dryer and cabinets for storage. You have access to outdoors from here too. A half bath with pedestal sink is conveniently located off the family room with easy access to the garage at the end of the hall. Upstairs, you'll find comfortable living spaces designed for relaxation and privacy. There are 3 large bedrooms and 2 full baths on this level. The Primary bedroom with w/w carpeting has its own full bath with a newer vanity and a tiled walk-in shower. This bedroom also features a large walk-in closet. The remaining 2 large bedrooms also feature w/w carpeting and lots of closet space. The partially finished basement provides plenty of possibilities--- whether you envision a home gym, a media room, extra storage or the perfect playroom for the children. With its ideal combination of classic charm, location and functionality, you won't want to miss the opportunity to make this inviting property your own. You have easy access to major highways, shopping and Mount Laurel's excellent schools.
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.
