1627 Monticello Dr, Saint Louis, MO 63138
3 beds · 1 baths · 1,781 sqft
New Price Improvement! Inspections available. This beautiful 3-bedroom, 1-bathroom home at 1627 Monticello Dr offers the perfect blend of charm and opportunity This spacious 1,781 sq. ft. home is an exceptional find, especially in today’s competitive market. Built in 1941, it boasts solid construction and sits on a generous 0.33-acre lot, perfect for families, gardening enthusiasts, or anyone seeking ample outdoor space. The large backyard is ideal for relaxing evenings or gatherings, offering endless potential for landscaping or outdoor activities.With vintage charm and a solid foundation, this home is perfect for buyers who love character but are eager to make modern updates. It includes a one-car garage, providing convenience in this car-dependent area, while still being close to local amenities. Nestled in a peaceful and established neighborhood, it’s an ideal setting for anyone seeking both serenity and space at an affordable price. 1yr Home Warranty to be provided.
Source: MARIS #24065312
Financials
Source: MARIS #24065312
Source: Public records
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%. 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.
Other resourcesWhat 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.