Welcome Home! Active now on the Market! Priced to go located at 76 Providence Road in Shelbyville - Newly remodeled 3 BR/2 BA/2 Car Garage and did I mention No HOA. This Property includes 3-bedroom 2 bath newly remodeled, single-level single-family home offering 1435 square feet of beautiful living space. Home also offers an open living space layout with plenty of natural light provided. Whether you’re a first-time buyer, looking to upgrade or seasoned buyer looking to scale back, this home may be the one for you. Home is convenient to several surrounding counties but away from the large hustle and bustle of the big city life. Featuring 3 spacious bedrooms and newly installed laminate flooring, this home combines comfort with durability. Enjoy the outdoors with a spacious rear patio, ideal for relaxing or hosting gatherings, and keep those dogs in with the fully fenced in backyard. New HVAC and Honeywell thermostat (2024) Newer Roof (2022), New carpet in bedrooms with New beautiful luxury vinyl tile in kitchen (May 2024), New Vapor Barrier in crawl space (2024), fresh paint throughout and updated landscaping. Large fenced in back yard with plenty of play or gardening space. Enjoy this well-maintained home in the Brookhaven community. Feel free to schedule your private tour and make this your forever home! Call today with any questions I would love to help make someone this home their new 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.
