2103 Danbury Dr, Indianapolis, IN 46231
3 beds · 2 baths · 1,604 sqft
Welcome to this beautifully renovated gem where charm meets modern elegance! From the moment you arrive, the elongated driveway and large covered front porch set the stage for the inviting warmth this home exudes. Step inside to discover a spacious living room flooded with natural light, large enough to create two distinct living areas or one impressive gathering space. Gleaming hardwood floors, either new or lovingly refurbished in 2020, flow throughout, adding timeless sophistication. The heart of the home is the fully renovated kitchen, with room for an additional eat-in area, a chef's dream with brand-new cabinets, quartz countertops, a stylish backsplash, and stainless steel appliances. The formal dining room offers the perfect spot to savor meals and make memories. Upstairs, you'll find three generously sized bedrooms, all bright and inviting, plus a versatile bonus room that's perfect as a 4th bedroom, playroom, or private home office. The hall bathroom is conveniently located to serve the upstairs spaces. Outside, the backyard is ready for summer barbecues, complete with a mini barn storage shed for all your tools and toys. With no HOA, this move-in-ready home is conveniently located near the Indianapolis Airport, The Shops at Perry Crossing, and offers easy access to downtown Indy for dining, shopping, and entertainment. This is more than just a house-it's your next chapter waiting to be written. Schedule your showing today before someone else seizes this opportunity to call it home!
Source: MIBOR #22005944
Source: MIBOR #22005944
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 620, 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.