Welcome to 6 Diane Drive in Malvern! From the curb, this home already has you. A charming front patio sets the tone, framed by lush, thoughtful landscaping with flowers in bloom, color everywhere, and a beautiful Japanese maple that welcomes you in. Step inside and you’re welcomed into a bright, open-concept living and dining space that flows effortlessly into the kitchen for easy everyday living and effortless entertaining. The kitchen is updated with quality cabinetry, and stainless steel appliances. Down the hall, you’ll find three generously sized bedrooms, each with great natural light. A fully renovated hall bath ties it all together for a polished, modern feel. The finished lower level makes the perfect second living room, gym, media space, playroom… whatever life needs next. This level also includes a private office space and a laundry area, plus a half bath thoughtfully added in 2020 for convenience. But the moment you’ll keep coming back to is out back. A covered rear porch overlooks just under half an acre of flat, usable, private land, a rare find in this area. Mature trees, open green space, and a firepit area. The location is the cherry on top. You’re just minutes to King Street and everything downtown Malvern Borough has to offer; coffee shops, restaurants, boutiques, and that small-town energy straight out of a Hallmark movie. You’re also incredibly close to the Paoli/Thorndale Line and the Paoli Train Station, making commuting into the city or up to New York via Amtrak incredibly convenient. And if you know Malvern, you know the rhythm of it, the sense of community, and the traditions that make it feel like more than just a place to live. You’ll be right in time for one of the most beloved local traditions, the Malvern Fire Company Fair. Move right in and make it yours!
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.
