Discover an incredible opportunity with this versatile duplex situated on nearly half an acre along a quiet, low-traffic street. Whether you choose to live in one unit and rent the other, lease both sides, or convert one into a professional home office, this property offers flexibility to fit your lifestyle or investment goals. Step into the ''Main House'' from the charming covered front porch and into a light-filled living room, seamlessly connected to the adjacent dining room - ideal for gatherings and entertaining. This unit features two sizeable bedrooms that share a full bathroom conveniently located off the dining area. Continue through the efficient galley kitchen, highlighted by eye-catching blue cabinets and wood-look counters, and you'll find a cozy family room with a wood-burning fireplace and a doorwall leading to the patio and expansive backyard. A large basement provides laundry, utility space, and abundant storage. The ''Apartment'' offers its own exterior entrance andalso connects to the main house via a doorway off the family room, making it perfect for multigenerational living or tenant privacy. This unit includes a bright living room with a large picture window, a spacious eat-in kitchen, and two bedrooms that share a full hallway bath. A combined laundry/utility room off the kitchen also functions as a mudroom with access to the backyard. The main house enjoys forced-air heat and central air conditioning, while the apartment benefits from efficient baseboard heat and a wall A/C unit. Newer windows, water heater, and boiler offer peace of mind, along with the added reliability of a whole-house generator. Sitting on 2.5 lots, this property provides over 0.40 acres of space and privacy - especially in the fenced backyard, perfect for kids, pets, gardening, or outdoor entertaining. All this in a fantastic location just minutes from Depot Town, EMU, restaurants, shopping, and major freeways. This property is a rare find - ideal for investors, professionals welcoming clients, or anyone looking to of
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.
