5318 W Gas Line Rd, Frankfort, IN 46041
3 beds · 2 baths · 1,738 sqft
One-of-a-Kind 16-Acre Retreat with Endless Charm. Discover the perfect blend of comfort, space, and natural beauty with this stunning 16-acre property. Meticulously maintained and thoughtfully designed, this one-of-a-kind home and property offers everything you've been dreaming of-and more. The home features 3 spacious bedrooms, 2 full bathrooms, an exercise room, and a generous 2-car garage. The bright and airy sunroom is the perfect spot to relax with a morning coffee or entertain guests in style. Enjoy cooking in the open-concept kitchen, which boasts an abundance of cabinetry and flows seamlessly into the dining area-ideal for hosting family gatherings and celebrations. The primary suite offers comfort and space, easily accommodating a king-sized bed, with a private full bathroom and ample closet storage. Step outside and fall in love with the property's unique features: multiple outbuildings, a peaceful pond, an above-ground pool, and captivating topography that offers both privacy and charm. This is more than just a home-it's a lifestyle. Whether you're seeking a private retreat or a place to create lasting memories, this property checks every box. Schedule your private showing today and experience the magic for yourself!
Source: MIBOR #22032336
All values shown are estimated costs / mo.
Source: Public records
Source: MIBOR #22032336
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.