THIS HOME IS NOT FOR RENT - FOR SALE ONLY. ANY ATTEMPTS TO LEASE THIS HOME IS ILLEGAL & SHOULD BE COMMUNICATED WITH THE LISTING AGENT ONLY. HUD Home. Year Built 1950, LBP is required for all properties built before 1978. Sold "AS IS" by elec. bid only. Prop avail 01/27/2026 . Bidding Process, Bid Due/Expiration dates, HUD's Insurability and other important information is posted on www.hudhomestore.gov. FHA Case #446-409666. Insured (IN). Eligible for FHA 203K. Financing Terms: FHA 203K, FHA 203B, Cash or Conventional Finance. This spacious Row Home with full walk out basement and garage can be your home. Close to schools, parks, Shopping and Transportation. Don't miss out on the opportunity. Buyer to verify all information prior to bidding. Go to website for more information or to place a bid. Buyer is responsible for their own investigative information on SqFt of home, Room Sizes, Bathroom counts, taxes and all other information regarding this home. This home is a AS-IS Sale with buyer being responsible for all inspections and repairs including CO/U&O, final water and sewer and other township inspections. Availability and status of sale type are subject to change at any time. This home may be available for $100.00 Total Down Payment if purchased with FHA Insured loan. $100.00 Down Payment is a Limited time opportunity. Also available are 1st Time Buyer Grants up to $10,000.00 toward Down Payment and Closing Costs. Buyer must be an owner occupant purchaser for these programs. All programs are subject to change at any time. Buyer choses their own lender. See attached Addendums & Disclosures in www.hudhomestore.gov.
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.
