21004 Ontaga St, Farmington Hills, MI 48336
2 beds · 1 baths · 1,551 sqft
MULTIPLE OFFERS RECEIVED! Please submit all offers by Sunday, March 30 at 8pm. Move-in ready and full of updates! This charming bungalow has been thoughtfully renovated to offer modern comforts in a quiet neighborhood. Fully redone in 2017, the home features a new kitchen, bathroom, furnace, water heater, central air, and more. A new roof was installed in 2018, and the upstairs loft was completely updated in 2021 with new drywall, insulation, electrical, lighting, and carpet. Fresh paint (2019) enhances the bright and inviting interior. Enjoy an updated kitchen with decorative paneling, while new light fixtures and fresh paint add a stylish touch throughout. The basement offers two additional bedrooms with daylight windows, perfect for extra living space. A newly installed steel backdoor provides added security. Outside, a fenced double lot provides plenty of room for outdoor entertaining or a future garage. Conveniently located just minutes from shopping, dining, entertainment, a hospital, and urgent care, this home offers peaceful living with easy access to everyday essentials. Newer appliances, including a refrigerator, washer, and dryer (2019), make this a truly move-in-ready home. Don't miss this opportunity—schedule your showing today!
Source: REALCOMP #20250020570
Source: REALCOMP #20250020570
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.