Set on nearly 1/3 of an acre, on a quiet street, this stunning home offers light-filled rooms arranged in a spacious, flowing floor plan. A coastal aesthetic takes center stage in the stylish finishes chosen, including modern lighting, privacy glass-paneled interior doors with brushed gold knobs, and a stunning glass and oak stair railing. Fall in love with the dreamy kitchen equipped with Samsung appliances, a center island with waterfall edges, quartz countertops, tile backsplash, full-height soft-close cabinetry, a pantry closet, and a convenient workstation sink. A wide opening to the dining room makes entertaining and daily meals a breeze. 3 bedrooms and 2 full baths are found on this level, including the spacious primary suite with a walk-in closet and en-suite bath. The versatile lower level offers large spaces to use as you like, including guest space/in-law suite with a full bath with shower and access to the garage and patio. Thermal windows, custom cordless blinds, refinished hardwood floors, a fresh, neutral color palette, ample closet storage, and a laundry room with a utility sink and Samsung 'SmartThings' washer and dryer are a few of the additional updates you'll enjoy. Outside, find a covered front porch, a spacious wood deck, and ample lawn spaces to enjoy. Convenient location with shopping, restaurants, local business centers, Rt. 280 and easy access to NYC with busses and access to midtown direct trains nearby. Taxes are approximately $18,470.
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.
