Bold, modern, and beautifully finished, 87 Rose Lane offers a contemporary coastal escape just steps from the Delaware Bay. High-contrast design elements, clean lines, and thoughtfully curated details create a style that is both striking and inviting. Whether you're enjoying the natural light throughout the home or relaxing in the Bay breezes outdoors, this property blends contemporary design with the ease of shore living. Step inside to an open floor plan that seamlessly connects the living, dining, and kitchen areas; ideal for casual family living. The kitchen features a combined pantry and laundry closet with new wood-and-frosted-glass barn doors, stainless steel appliances, including a newer refrigerator and a low-profile over-the-stove microwave, and a newly built island with a brand-new dishwasher and seating for four. A glass sliding door fills the space with natural light and frames a lovely view of the garden. Thoughtful paint updates completed over time enhance the home’s dramatic modern style, while LED flush-mount lights with night-light dimmers add a warm and inviting ambiance for relaxing evenings. The hallway leads to three well-appointed bedrooms, each offering generous space; two can comfortably accommodate a king-size bed, while the third is best suited for a queen-size bed due to its layout and available space. A beautifully updated bathroom serves this area, featuring freshly painted walls, a modern vanity, and an upgraded toilet. The hallway also provides attic access, with a new aluminium attic ladder installed for easier, more convenient entry. Outdoors, the expansive, fully fenced yard, with mature oak trees, offers exceptional versatility. A modern 7×7 resin shed sits atop a stone base, while a spacious 12×18 aluminum hardtop gazebo, complete with lighting, two ceiling fans, mosquito netting, and privacy screens, creates an ideal setting for outdoor entertaining. A fire pit adds to the ambience, and the newly laid stone driveway accommodates four to six cars, with ample street parking available. Recent updates include a new roof with an added ridge vent for improved ventilation (2023), a new HVAC system (2024), a vapor barrier and insulated block walls in the crawl space (2024), updated lighting throughout, ceiling fans in every room, luxury vinyl plank flooring throughout, custom closet systems in each bedroom, a hardscaped stone border around the home, a modern resin shed, an outdoor aluminum gazebo, a fire pit, and an expanded stone driveway. Perfectly located just a short drive from charming local shops, popular restaurants, and the beautiful beaches of Cape May, this home offers the ideal combination of tranquil bay-side living and convenient access to vibrant attractions. Whether you’re seeking a peaceful retreat or a smart investment, 87 Rose Lane is perfectly positioned to enjoy the very best of the Delaware Bay area.
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.
