OPEN HOUSE this Sat June 20th | 12pm-3pm. This charming colonial townhouse in the desirable Brandywine Country community offers a blend of comfort and convenience. Built in 1980 and meticulously maintained, this residence spans 1,268 square feet and features two spacious bedrooms and two and a half bathrooms, making it an ideal choice for those seeking a cozy yet functional living space. Step inside to discover a traditional floor plan that emphasizes both style and practicality. The inviting breakfast area and eat-in kitchen, equipped with stainless steel appliances including a built-in microwave, dishwasher, and electric range, provide the perfect setting for casual dining. The kitchen also features ample table space, making it a great spot for gatherings. The formal dining room adds an elegant touch for more formal occasions. Natural light fills the home, highlighting the wood floors and recessed lighting throughout. The primary suite boasts a walk-in closet and an en-suite bathroom, ensuring a private retreat. Additional features include ceiling fans for comfort and a convenient stacked washer and dryer. Outside, the community offers a refreshing pool, perfect for relaxation and socializing during warmer months. The low association fee includes common area maintenance, allowing residents to enjoy the beautifully landscaped surroundings without the hassle of upkeep. Brandywine Country is not just about the home; it's about the lifestyle. The neighborhood is known for its friendly atmosphere and accessibility to local amenities. Residents benefit from nearby parks, providing ample opportunities for outdoor activities and leisure. The community is also well-served by public services, ensuring convenience and safety. With on-street parking and additional parking lot options, guests will always find a place to park. This property is a perfect blend of comfort, community, and convenience, making it an excellent choice for anyone looking to enjoy a vibrant neighborhood while having a cozy home to retreat to. Don't miss the opportunity to make this delightful townhouse your own!
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.
