Move in ready home situated towards the edge of a quiet neighborhood within minutes from Wittenberg University. Offering a large cooks kitchen with 2 tone cabinets, stainless steel dishwasher, as a complimentary stove and microwave. Large formal dining room with gorgeous built in and original wood work throughout the entire downstairs. Upgraded full bath with a vinyl tub as well as a large vanity. If you ever needed to, you have the option of converting the dining room into a bedroom so there is a full bath and a bedroom on the main level. Front porch is completely covered and is perfect for enjoying your morning coffee. With a baseboard heater, this could be transformed into a 4 season room. 3 full bedrooms and a full updated bath with a walk in shower and a double vanity. Full attic has been finished out and is perfect for an office or additional living space. Full unfinished basement has been transformed and provides additional storage space. Backyard is fenced and private. There is a covered patio which is perfect for lawn furniture so you can enjoy peaceful sounds of nature. Block 2 car garage has great potential for a workshop as well. Minutes from all major shopping as well as Lagonda Elementary 3 streets over. New coffee shop called Culture Cafe is around the corner. Sherman park offers a basketball court as well as access to Buck Creek for fishing, kayaking and more. 672 sq ft in the basement, 792 sq ft on the main level, 672 sq on the 2nd floor and apx 300 sq ft on the main level, 154 sq ft 3 season room, 120 sq ft covered patio and a 24x24. Which means you get 2590 sq ft in the house, 120 sq ft patio with a concrete pad and a 576 in the garage.
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.
