UNIQUE! YES, UNIQUE!! YOU CAN MOVE IN @ 4.5% INTEREST RATE (with assumption qualifier). This charming brick single is conveniently nestled in the heart of the Secane Subdivision of Ridley Township, where convenience meets modern suburban comfort!! Step inside and be greeted by warm natural light across hardwood floors that extend throughout the main level, creating a sense of continuity and grace.!!! The neutral, soothing fresh paint in this beauty just awaits your decor and personal touches.!!! The fully equipped kitchen, with a large storage pantry, awaits your culinary adventures and is complemented by countertops that provide ample space for meal prep, while the stainless steel appliances—including a microwave, dishwasher, and refrigerator—stand ready to assist!!! This kitchen experience, with the aroma of home-cooked meals filling the air into the dining and family room, is ready to host your memorable family dinners and gatherings!!! The main level bedroom, together with the family room, fireplace, and entertainment center, plus sliding doors to the covered porch and laundry room, further completes this home!!! Moving on up, await your retreat to TWO generously sized bedrooms, each offering a tranquil escape from the day’s hustle and bustle, plus the updated bathroom, ready to soak away the stress of the day!! The BONUS ROOM (now storage) is ready for added living square footage via a finished kids’ playroom or study!!! Further complementing this beauty is the large backyard, ready for barbecues and summer cookouts with family and friends, plus a storage shed, central air-conditioning, and a TWO-CAR driveway!!! Extras include washer, dryer, refrigerator, garbage disposal, ceiling fans, freezer, and entertainment center!!! This home is ideally located within minutes to award-winning RIDLEY schools, and transportation options are a breeze with SEPTA buses and train service!!! You are just minutes away from the vibrant city life of Philadelphia, catching a flight from the airport, cheering at the sports complex, or alternatively indulging in suburban dining under the stars in MEDIA!!! This beauty is ready for you to enjoy comfort, convenience, and cherish memories with the charm of suburban living!!!! BE THE LUCKY ONE for the special first-time buyers financing and the unique assumption possibility of this single—HELP MAKE IT HAPPEN TO MOVE IN!!!
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.
