Now with brand new carpets and offered at an improved price, your peaceful retreat in Midtown awaits! Tucked away in a welcoming neighborhood, this spacious 4-bedroom, 2-bath bungalow strikes the perfect balance of charm, tranquility, and convenience. Nestled along the edge of nature, yet just steps from the Monon Trail and the vibrant dining and shopping hubs at 54th & the Monon and Broad Ripple, you'll enjoy the best of both worlds. Inside, you'll be surprised by the generous room sizes and versatile layout ... rare finds in this area. Each bedroom features large closets and can easily flex into a home office, studio, playroom, or guest space to suit your lifestyle. Warm hardwood floors and a bespoke staircase add character, while the open-concept kitchen and dining area make everyday living and entertaining seamless. Downstairs, a large walkout basement expands your options even further, complete with a spacious laundry area and plenty of space for a game room, fitness studio, workshop, or kids playroom, office and more. Seller has done some important updates that offer the new homeowner added peace of mind. A brand new sewer line from Hope Plumbing with transferable lifetime warranty; new algae-resistant shingles on the entire backside of the roof as well as new wooden siding on the southside of the home; and the black aluminum fencing in the front yard add to the home's quaint character! Enjoy serene, nature-filled views from every angle. The lush backyard backs up to a wooded landscape that shifts beautifully with the seasons. In summer, it's a private green haven, and in winter, the view opens up to reveal a peaceful water view. Whether you're gathering with friends around a summer bonfire or using the space for extra parking, the large backyard offers endless possibilities. Don't miss your chance to own this rare Midtown gem - a home that offers flexibility, character, and connection to both community and nature.
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.
