Nestled in the heart of Palmyra, NJ, this lovely 4-bedroom, 1-bath home is the perfect blend of comfort, convenience, and charm. Whether you're a first-time homebuyer or looking to downsize to one floor living, this home offers everything you need to enjoy modern living in a fantastic community. Step onto the cute front porch, an inviting space where you can relax and unwind after a long day or sip your morning coffee. Inside, you’ll find an open-concept living area that provides a bright and airy atmosphere. The seamless flow between the living and dining areas makes this home ideal for both family living and entertaining guests. The home features spacious bedrooms. The full bath has been recently updated, offering a fresh, modern look while maintaining the home's inviting warmth and character. One of the standout features of this property is the large fenced-in backyard, offering a fantastic outdoor space for kids, pets, or hosting gatherings with friends and family. The backyard provides plenty of room for gardening, playing, or simply relaxing. The community here is truly wonderful, with friendly neighbors and a neighborhood vibe that makes Palmyra feel like home from the moment you arrive. Whether you’re enjoying the local parks, shops or restaurants, you’ll love the peaceful charm of this small-town feel, just minutes from everything you need. And the best part? This home is just 20 minutes from Philadelphia, making it ideal for commuters who want to enjoy suburban tranquility with the convenience of city access. Whether you're heading to work, dining out, or catching a show, you'll be able to enjoy all that Philadelphia has to offer, with a quick and easy commute home to your peaceful retreat. This is more than just a house—it's a place to call home. Don't miss your chance to make this charming property yours today!
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.
