Welcome home to this beautifully maintained single-family residence in the highly sought-after Ridley School District! Offering generous living space, timeless charm, and endless possibilities, this home is one you won’t want to miss. Step inside to find hardwood floors throughout, recessed lighting, and generously sized rooms that create a warm and inviting atmosphere. The stunning kitchen is truly the heart of the home, featuring abundant counter space, ample cabinetry, and a convenient wet bar sink—perfect for entertaining and everyday living. Enjoy meals in the separate dining area, beautifully illuminated by a charming bay window that fills the space with natural light. The impressive addition boasts vaulted ceilings and offers incredible flexibility, while the first-floor full bath creates an ideal opportunity for a main-level primary suite or in-law suite. Need more space? The lower level already includes a half bath and is ready to be finished into additional living space. The walk-up attic offers even more potential and could easily become a loft, office, or bonus room. Storage is plentiful throughout the home, and you’ll appreciate the convenience of main-floor laundry. Outside, the spacious, fully fenced backyard provides plenty of room to relax, entertain, or play, and includes a storage shed for all your outdoor needs. This home could not be in a better location. Close to shops, restaurants, and walking distance to the local elementary school...while also being a quick access to I95 and route 1- commuting is a breeze. With its versatile layout, beautiful updates, and incredible potential, this Ridley School District gem is ready to welcome you home! Schedule your tour 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.
