Looking for a home that has been cared for over the years, updated and has a mother-in-law suite? Look no further! 6324 Roosevelt Ave offers all of that! This beautiful property is a corner lot and has been lovingly cared for by its current owner for decades. This one is truly turn key ready as the kitchen was updated within the last three years and boasts stainless steel appliances, recessed lighting, and a gorgeous island giving you more counter space and an area to enjoy your meals. This stunning kitchen is just off of the spacious living room which features newer flooring and a dazzling wood-burning fireplace featuring ______ stone. Head down the hallway and you'll find a full bathroom with a walk-in shower and two bedrooms, both of which have the original hard wood floors that are in great shape! There's even built-in shelving in the bedroom closet, giving you even more storage space. Head upstairs to the in-law suite where you will find a unique bedroom due to the thick tongue and groove wood, a full bathroom and a large living area with a living room and second kitchen, making this property truly unique! Laundry is located in the basement and both the washer and dryer are less than five years old. Also check out the HVAC while you're down there as it was replaced three years ago. The hot water heater was also replaced within the last five years giving you even more peace of mind. The roof was replaced within the last three years when the solar panels were installed. The current owner even had gutter guards installed to ensure for proper drainage. The back yard is fully fenced giving you even one less thing to do! As you can tell this property has been lovingly cared for over the years and the major items like the roof, HVAC etc have been recently replaced allowing for you to move in with confidence that all you need to do is unpack and relax. The detached garage features an automatic garage door opener and plenty of space for storage as it is currently being used. This corner lot home is truly a gem and is just waiting for its next owners to love it as much as it has been over the years! Schedule your appointment today as this home is truly unique and won't last long!
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.
