OPEN HOUSE Sunday June 14th 11am-2pm. Welcome to 89 Fox Gap in Washington Township, a beautifully maintained, spacious country home offering the perfect blend of peace and modern comfort. Situated on a generous, flat half-acre lot on a quiet street, this property exudes pride of ownership from the moment you arrive. The entire residence was completely flipped and modernized in 2016, and it has been lovingly and meticulously cared for ever since. Step inside the main level to find stunning, durable bamboo flooring that flows seamlessly throughout the open living space. The bright, functional kitchen is a home chef’s delight, featuring a breakfast bar with comfortable counter seating, ample workspace, and a dedicated pantry for optimal storage. Convenience is key on the first floor, which also hosts a well-appointed combination half-bathroom and laundry room. Upstairs, the second level offers a peaceful retreat with brand-new, plush carpeting throughout the bedrooms. This floor features three bedrooms and two full bathrooms, which includes a private primary suite complete with a convenient walk-through closet and an en-suite bathroom with double sinks. Outdoor living options abound with three distinct covered spaces to enjoy the serene country setting. Relax on the welcoming front porch, sip your morning coffee on the side covered porch, or host summer gatherings on the spacious side deck. The amenities continue into the expansive, fully fenced backyard—a private oasis perfect for relaxation and recreation. Cool off during the warm months in the pristine above-ground pool, or enjoy the massive lawn. The property also features two storage sheds, providing plenty of room for tools, lawn equipment, and outdoor gear. Located in a quiet neighborhood, this home offers a tranquil escape without sacrificing accessibility. The large driveway provides plenty of parking for residents and guests alike. With its turnkey condition, thoughtful upgrades, and exceptional indoor-outdoor flow, 89 Fox Gap is ready for its next owners to enjoy this fully renovated farmhouse. Schedule your tour today to experience this pristine property firsthand!
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.
