Welcome Home to 7032 Erdrick St — Comfort, Space, and a Little Something Extra Some homes just check the boxes. This one checks them all and then throws in a hot tub. The open layout connecting the kitchen, dining, and living areas makes everyday living feel easy and natural, whether you're cooking, entertaining, or simply enjoying the space. The kitchen itself features warm wood cabinetry, a tile backsplash, and a full suite of stainless steel appliances including a gas range, built-in microwave, dishwasher, and a French door refrigerator with ice and water, all recently purchased and still under warranty. Three well sized bedrooms offer plenty of room for everyone, including a generous primary suite with two closets, because one is never really enough. The renovated bathroom comes with a built-in Bluetooth speaker right in the lighting, because your morning playlist deserves better acoustics than your phone on the sink. A tankless water heater ensures a never ending supply of hot water, and it's still under warranty for added peace of mind. Head downstairs to a partially finished basement that's full of potential, with additional living space, a half bath, and a dedicated laundry and storage area. There's also a guest half bath on the first floor, because good hosting is in the details. Out front, the enclosed porch is your new favorite room, quiet enough to focus, cozy enough to unwind, and perfect for a work from home setup that doesn't feel like a closet. Out back, a covered porch and a hot tub under a pergola are waiting to become your personal after-work ritual. You've earned it. Conveniently located near ShopRite, Save A Lot, PNC Bank, Citizens Bank, Walgreens, restaurants, a gym, and the shops and businesses of the Mayfair corridor, everything you need is just around the corner. Qualified buyers may also be eligible for grant programs offering around $15,000 toward homeownership. A great home and a financial boost to get you started, not a bad deal.
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.
