Welcome to 605 Cherry Drive — a tastefully refreshed and move-in-ready ranch offering affordable comfort, modern updates, and an easy, single-story layout in a wonderfully convenient location. Step inside and you'll immediately appreciate the bright, welcoming feel created by new paint throughout, updated lighting, and brand-new windows installed in the kitchen and living room (Dec 2025) that fill these spaces with natural light and energy efficiency. The newly updated eat-in kitchen is the heart of the home, featuring refreshed cabinetry and stylish countertops, and 2022 appliances that make cooking and entertaining effortless. A dedicated interior laundry room sits just off the kitchen and includes the washer and dryer — a thoughtful convenience at this price point. This home offers two separate living areas, giving you the flexibility you want. The front living room provides a warm, sunlit space for everyday relaxation, while the spacious den features built-in storage, cozy carpeting, and room to spread out (BONUS, large couch is included in the sale!) — ideal for a playroom, home office, media room, or second lounge space. WOW! With three comfortable bedrooms, everyone has a place to call their own. The primary bedroom includes two closets for excellent storage plus additional wardrobe, while the two additional bedrooms offer flexibility for guests, hobbies, or work-from-home needs. A well-appointed full bath serves the home with classic simplicity and updated finishes. Step outside to discover a backyard designed for relaxation and everyday enjoyment. The fenced yard is perfect for pets or play, and the large patio with pergola creates a welcoming space for outdoor dining, morning coffee, or evenings by the firepit. A storage shed remains with the property to keep tools and outdoor gear organized. Major system recent updates bring peace of mind, including: • Roof (2020) • Water Heater (2022) • Two new windows (kitchen + living room (Dec. 2025) • Updated kitchen (Nov. 2025) + 2022 appliances • Fresh paint throughout. Located just moments from shopping, restaurants, amenities such as parks, libraries, sportsplex, I-64, and an easy commute to Scott Air Force Base or STL, this home blends comfort and convenience in a way that truly stands out. Whether you're searching for your first home, looking to downsize, or hoping for a low-maintenance lifestyle with modern updates already completed, 605 Cherry Drive is ready to welcome you home. Audio/Video recording on property in progress.
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.
