WELCOME HOME to this adorable renovated ranch with FULLY FINISHED TERRACE LEVEL! RARE LISTING IN HOLLAND WOODS! The welcoming front porch invites you to sit and stay awhile. Double front doors enter into an open living area with refinished HARDWOOD FLOORS throughout the main level. Renovated EAT IN KITCHEN with new appliances including gas range and cooktop and stone countertops. The NEWLY REPLACED WINDOWS (with transferable warranty) are abundant in this stepless entry kitchen from the double garage. This spacious kitchen has a BAY WINDOW that offers extra seating (and storage) along with the large island to entertain family and friends. Upper back deck situated off the kitchen is perfect for barbecues and relaxing with a coffee. The large, bright living area with vaulted ceilings is open to the dining area with bench seating and storage in the bookshelves that line the brick fireplace (with gas starter) adds to the coziness of this space. The oversized Main bedroom has a large bath with double sinks and closets. The main level has two secondary bedrooms that share a renovated bath and laundry closet. New decks look out over the expansive backyard with two established gardens. The terrace level offers a HUGE amount of space, you may need a map! The 4th bedroom area is adjacent to the office area, FULL BATH and SECOND LAUNDRY! Another area can be used as a 5th Bedroom (closet but no window). Turn the corner to find two HUGE LIVING AREAS. Let your imagination run wild on how to use this space. Tons of storage! This level has two exits onto another set of decks to entertain upon. NEW ARCHITECTURAL ROOF(2022) NEW AC (2022) NEW HEATER (2025) NEW WATER HEATER (2022) FRESHLY PAINTED! Move in ready with Excellent Schools and shopping with the Avenues close by. COME SEE THIS ONE AND MAKE IT YOUR OWN!
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.
