Welcome home to this one-of-a-kind 1800s Colonial where timeless character meets modern peace of mind! If you've always dreamed of owning a historic home but worried about the maintenance, this is the perfect blend of classic charm and updated convenience. Featuring 5 bedrooms, 3 full bathrooms, and situated on nearly 4 private acres, this property offers the space and flexibility today's buyers are looking for. From the moment you step inside, you'll appreciate the beautiful hardwood floors, original character, and spacious rooms throughout. The first-floor owner's suite includes a private en suite bath, creating the perfect retreat. Upstairs you'll find three additional bedrooms and a full bathroom, while the detached in-law suite with its own full bath provides endless possibilities for guests, multi-generational living, a home office, or private studio. Unlike many century homes, this property has already been updated with the improvements buyers want most, including new plumbing, updated electrical wiring, a newer furnace, central air conditioning, a new hot water tank, and a modern basement—giving you the beauty and craftsmanship of an 1800s home without many of the common century-home concerns. A brand-new septic system is included and will be installed, offering even more confidence for the next owner. Outside, relax on your private deck overlooking the peaceful acreage. The property also features a 3-car garage and two outbuildings, including a horse barn ready for your finishing touches, making it ideal for hobby farmers, horse enthusiasts, storage, or workshop space. Whether you're looking for a historic Colonial, hobby farm, horse property, multi-generational home, or simply room to spread out, this exceptional property delivers the perfect combination of history, modern updates, privacy, and country living. Easy Commute to Cleveland or Akron, close to I 71 and 76.
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.
