Est. 1949. Welcome to this beautifully updated mid-century modern ranch nestled in the heart of highly sought-after central Webster Groves, set on nearly half an acre. This light-filled home welcomes you with gorgeous hardwood floors in the living and dining rooms, complemented by a charming bay window that creates the perfect setting for everyday living or special gatherings. The main level offers three bedrooms with brand new carpet and two updated full baths, along with a modern kitchen featuring refreshed cabinetry, butcher block countertops, SS appliances and a deep kitchen sink. A large vaulted family room serves as a sanctuary in the home, showcasing a cozy brick and stone fireplace, tile flooring, and walls of windows that flood the space with natural light and offer peaceful views of the private backyard. Convenient main-floor laundry completes the main level. The partially finished lower level also with brand-new carpet provides flexible space for a recreation room, home office, or play area. Outside, enjoy a fully fenced backyard with a paver patio and storage shed, ideal for outdoor entertaining or relaxing evenings. Parking is effortless with an oversized attached two-car garage featuring workshop space, a convenient circle drive, and additional side parking. Located just a short stroll from Old Webster, you’ll love easy access to award-winning restaurants, boutique shopping, coffee shops, and year-round community events. Experience the charm, walkability, and lifestyle that make Webster Groves one of the most desirable places to call home—this move-in ready gem is a must-see.
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.
