** PROFESSIONAL PHOTOS WILL BE POSTED THURSDAY, JUNE 25th!** Welcome to 773 Richmond Drive, a Washington Township home located in the Whitman Square section, where thoughtful updates and flexible living spaces come together to create a home that is both comfortable and functional. From the moment you step inside, you’ll notice the new flooring installed throughout in 2024, giving the home a fresh, modern feel. The main level features a bright living room, a dining area just off the kitchen, and a kitchen with beautiful granite countertops and sliding glass doors that lead directly to the backyard. The layout is perfect for both everyday living and entertaining. One of the home’s most unique features is the renovated bonus room, completed in 2024. This versatile space can serve as a spacious primary suite with in-room laundry, or be customized as a playroom, home office, family room, fitness room, or guest retreat. The room also offers exceptional storage with additional storage. Upstairs, you’ll find three generously sized bedrooms and a full bathroom. Storage is plentiful throughout the home, with ample closet space, attic access, and a large coat closet in the entryway. Outside, the large fenced backyard provides endless possibilities for recreation, gardening, pets, and gatherings. The patio offers a great space for outdoor dining and relaxation, while the shed adds convenient storage for tools, equipment, and seasonal items. Recent updates include a new roof (2025), new water heater (2026), new flooring throughout (2024), a fully renovated bonus room (2024), a storage shed (2022), and a patio (2018), allowing buyers to move in with confidence. The sellers are motivated and welcome serious offers. Please note that the sellers will require suitable housing. House is located in the Washington Township Public School District!! Move-in ready and filled with valuable updates, this home offers the space, versatility, and outdoor living today’s buyers are looking for. Schedule your private tour today!
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.
