1818 Cornell Ave, Indianapolis, IN 46202
3 beds · 2 baths · 2,150 sqft
Trendy Downtown Living in this Completely Updated 3 BDRM 2 Bath Modern Home with a Rooftop Entertainment Area! Location is Prime! Walking Distance to many Downtown Eateries & Clubs, Bottleworks, & Mass Ave. Just a Few Steps away from the Monon Trail Offers Lots of Opportunity to get Around with Ease! Open Area Floorplan Offers a Cozy Bungalow Feel! Spacious Living Room, Dining Room & Kitchen w/10ft Ceilings for a more Open Feel! Living Room has Custom Fireplace Mantle & Cozy Gas Fireplace! Gourmet Kitchen features Stainless Steel Appliances, Double Oven, Quartz Countertops with Waterfall Edges, Farm House Sink, Counter to Ceiling Cabinets, & Soft Close Drawers & Doors! Primary Bath updated with Oversized Custom Tile Shower & Rainfall Showerhead! Floating Dual Sink Vanity with Smart Mirrors! Unique Sliding Closet Door in Primary BDRM. Laundry Closet Features Oversized Butcher Block Countertop for Folding! Basement has been Waterproofed, Walls Framed, and Epoxy Floor Added. The Impressive Backyard Area is Perfect for Entertaining! Newly installed 8" Modern Privacy Fence with Double Gate in the Back! Tree Lined Empty Lot Next Door adds to the Privacy! Rooftop Deck is Perfect for Enjoying Those Backyard Summer Nights! Plenty of Room for Tables & Chairs or a Lounger for Relaxing in the Sun!! Large Attic Space is Perfect for Storage! No Homes Across the Street add to the Privacy! Home is A Must See!
Source: MIBOR #22024196
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Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Rates and payments are estimates based on public records.
Source: Public records
Source: MIBOR #22024196
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.