259 Jamesway, Benton Harbor, MI 49022
3 beds · 1 baths · 1,296 sqft
Charming 3-Bedroom Ranch Home in St. Joseph Township.Discover the perfect blend of classic charm and modern convenience in this beautifully maintained 3-bedroom ranch home, proudly owned for over 40 years. Settle into the atmosphere of a warm & inviting sunken living room accentuated by gleaming hardwood floors and fireplace to warm up during those chilly days.The main floor features a modern kitchen, equipped with contemporary appliances and fixtures, making it a dream for any home chef. The cozy living room boasts a stunning picture window that invites natural light to fill the space, complemented by a beautiful fireplacea"perfect for warming up on chilly evenings and creating a focal point that adds character to the room.home is designed for functionality and comfort. The expansive downstairs area offers endless possibilities for a family room, play area, or home office, tailored to your lifestyle needs. Externally, the striking brick facade exudes timeless appeal while providing durability and low maintenance. The lovely yard offers plenty of space for outdoor gatherings, gardening, or simply relaxing in the sunshine. This well-loved home is not just a place to live; it's a place to create memories. Don't miss this rare opportunity to own a slice of history in a wonderful neighborhood!
Source: REALCOMP #81025004546
Source: REALCOMP #81025004546
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.