Welcome to this amazing and well cared for home. 708 E. Chestnut Ave is waiting for you. This wonderful home has 3 bedrooms and 1.5 bathrooms. This maintained home has 1 bedroom on the first floor (previously used as an office) and 2 more bedrooms within the 2nd level living quarters; a full bathroom on the second floor and a half bath on the first floor. Along the first floor you will find your living room area where you can create an area of entertainment for family and friends. As you pass the living room area, you'll find your first bedroom on your right hand side with additional storage space above the bedroom closet. As you walk pass the first bedroom you will walk into your dining room area for those family and friend mealtimes. Through the dining room you will uncover your wonderful "eat-in" kitchen equipped with a newer gas stove, a spacious stainless-steel fridge, top and bottom cabinetry and a stylish kitchen island for additional storage for your pots and pans and additional counter space for meal preparation. Within the dining room you will see a set of stairs leading you up to the second floor. At the top of the landing, you will find your 2nd bedroom on your right-hand side and the 3rd bedroom on your left with your full bathroom as well. Not only will this home make you happy it will keep you SAFE. in 2021 this home was equipped with a stupendous alarm monitoring system by Bianco Security Systems. A trusted brand since 1959 servicing clients such as Inspira hospital, CompleteCare, Vineland chamber of commerce and of course your future home. Along with the monitoring system are 2 doorbell ring cameras that are hardwired to your home so you can see who is at your home anytime and anywhere. ALL windows in the home are also equipped with security features for extra security awareness for you, your family and friends. The subscription for this fantastic service is paid until September of 2026. To add more value to your home the entirety of the main sewer drain has been completely replaced with a brand-new drain. The lawn maintenance equipment located in the basement will also stay with your home. Don't wait! Come and make your appointment now to tour your future home.
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.
