29899 E River Rd, Grosse Ile, MI 48138
4 beds · 1 baths · 1,800 sqft
Get a free consultation call with an expert in the mortgage assumption process.
There are only a handful of homes with such striking views of Lake Erie as this! Now is your chance to own your own little piece of paradise on very special resort-like Hickory Island! Home offers amazing panoramic views with many new large picture windows bringing the scenic water views front and center! Trex deck at the water to relax and immerse yourself in the tranquility that waterfront living provides. Watching for passing freighters becomes a favorite pursuit. Completely remodeled first floor opening up the living, dining and sunroom combined. Waterview's and natural sunlight every turn. This lovely home is full of character and charm, natural fireplace in living room, living room/open to bright sun room, and spacious kitchen with lots of cabinets counter space. Brand new bathroom on first floor. Second floor large primary room has the most beautiful view. One room is ready for you to finish into a bathroom or bring washer/dryer upstairs. Brand new split unit to control temperature on each floor separately, great for efficiency! Brick paver patio, lovely landscaping, 2 car detached garage. Island living is better on Hickory Island! Residents can enjoy the Pavilion, immense common space for picnics, yard play, tennis courts, and check out the affordable Hickory Island Yacht Club to keep your boat close by!
Source: REALCOMP #20240091540
Source: REALCOMP #20240091540
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.
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.
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.
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.
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 and Equal Opportunity Act.