**BONUS ROOM to rear of first floor could be 4th bedroom** Welcome home to this beautiful Perkasie twin, tucked away on a dead end street, just steps away from the center of town!! Come see what all the fuss is about in this highly sought after neighborhood that boast the oldest tree lighting in America. As you enter through the front door you are greeted by hardwood floors that add a level of elegance to the space. Journey into the kitchen that is adorned with vinyl plank flooring and and modern stainless steel appliances. A conveniently located FULL first floor bathroom is perfect for entertaining and keeping your upstairs private from guest. To the back of the house is a bonus room, office, or 4th bedroom, whichever is the best use of space for your situation. Through the door at the rear of the house is an outdoor oasis perfect for gatherings, pets, and peace and quiet. The current owners have made use of the space with a pergola, outdoor TV, raised gardens, but bring your imagination as the potential is endless. Head upstairs and you will find a large primary bedroom, along with 2 additional bedrooms. All bedrooms have hardwood floors as well as a ceiling fan to help with the summer heat. The full bathroom with tile surround shower completes this level. Driveway parking, an outdoor shed, fully fenced yard, and being located in Pennridge School District, are just a few of the bonuses provided by this lovely home. Make sure that you reach out before this one is gone, it will not last long!!
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.
