This beautiful home is nestled on a quiet street leading into a cul-de-sac mere minutes from ESU, LVHN Pocono, Route 80 and downtown East Stroudsburg and provides close proximity to health care, education, entertainment venues and dining experiences. Meticulous care has been taken of this expansive 5 bedroom 2 1/2 bath home with the possibility of increased living area should you choose to finish the full unfinished basement. Enter through the 2 story light filled foyer to find a formal living room, a formal dining room, a family room adjacent to the kitchen (which provides both a breakfast bar and additional seating) with granite countertops. A patio door in the kitchen/family room areas leads to a 24' x 16' sunroom/conservatory which overlooks the spacious back yard and a 10' x 20' deck for outside enjoyment. Completing the first floor is a 1/2 bath with tile floors and walls in addition to a laundry room with a wash sink leading to the 2 car garage. Upstairs you'll find an oversized Master Bedroom with a walk in closet and an ensuite bath with both a tile lined shower and a tub. There are 4 additional bedrooms upstairs (one currently used as an office) and a full bath. Attic access is provided via pull down stairs. The owner took meticulous care of this home. Upgrades performed during the last four years include replacing the front entry door and sidelights, replacing the air conditioning condenser, replacing light fixtures (chandeliers), replacing rain gutters and installing leaf guards, extending the deck to its current size, installing smoke and carbon monoxide detectors and installing automatic garage door openers. Move in ready! Make this home yours 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.