Discover the charm of this delightful penthouse unit nestled in the heart of the Summertree Condo Apts. This inviting residence, built in 1976, combines classic Colonial architecture with modern comforts, making it the perfect retreat for those seeking a cozy yet stylish living space. Step inside to find a spacious layout that effortlessly accommodates both relaxation and entertaining. With three well-appointed bedrooms and two full bathrooms, this home offers ample space for everyone. The thoughtful design ensures that each room is filled with natural light, creating a warm and welcoming atmosphere. The heart of the home features a functional kitchen, ready for your personal touch. The convenience of in-unit washer and dryer hookups adds to the ease of daily living, allowing you to manage laundry with minimal hassle. One of the standout features of this property is the community amenities. Enjoy sunny afternoons by the community pool, perfect for unwinding or socializing with neighbors. The association takes care of common area maintenance, lawn care, and snow removal, allowing you to spend more time enjoying your home and less time on upkeep. Parking is a breeze with off-site options available, ensuring you always have a spot waiting for you when you return home. The well-maintained grounds and brick exterior add to the overall appeal of this charming community, creating a picturesque setting for your new life. Located in a vibrant neighborhood, this penthouse unit offers easy access to local shops, dining, and recreational activities. Whether you're looking for a peaceful retreat or a place to entertain, this home provides the perfect backdrop for creating lasting memories. Don't miss the opportunity to make this lovely penthouse your own. Embrace the comfort and convenience of Summertree Condo Apts, where every day feels like a getaway. Schedule your private tour today and envision the possibilities that await you in this inviting space!
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.
