1006 Cherry Tree Ln, Greenwood, IN 46143
4 beds · 3 baths · 2,389 sqft
We are pleased to present an exceptional home situated on a premium lot within the highly sought-after Cherry Tree Walk Subdivision, offering picturesque pond views. This residence is distinguished by remarkable upgrades both inside and out, including the unique advantage of being the only home in the subdivision that features a master bedroom suite with patio doors opening to a private balcony. Inside, the home showcases sophisticated upgrades such as elegant light fixtures and ceiling fans, a tray ceiling in the master suite, and meticulously detailed walls enhanced by chair rail, molding, and wainscoting. The flooring seamlessly blends chic tile, carpet, and high-definition laminate, creating a striking aesthetic throughout. The living room is further enhanced by a beautiful gas fireplace, while the kitchen stands out with refined cabinetry adorned with glass inserts, a stylish backsplash, and expertly crafted quartz countertops. The bathrooms are luxurious, featuring marble countertops, and the main floor laundry room is equipped with custom cabinets, a sink, and 12" tile flooring. Ascending to the second floor, you will find a spacious family room, four well-appointed bedrooms, and two full baths. The luxurious master suite includes patio doors that lead to a walk-out balcony, ideal for savoring morning coffee or evening sunsets. The en-suite bathroom boasts a modern tile shower and a generous walk-in closet. The outdoor space is equally impressive, featuring upgraded landscaping, ambient lighting, and an extended patio. This serene retreat is complemented by a covered private patio with a hanging swing, providing an idyllic setting for relaxation. We invite you to review the Property Update Sheet, which outlines a comprehensive list of enhancements made to this remarkable property, showcasing its exceptional value.
Source: MIBOR #22021220
Financials
Source: Public records
Source: MIBOR #22021220
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.