42627 Savoy Ct, Northville, MI 48167
2 beds · 1 baths · 1,440 sqft
Beautifully updated and well kept condo in highly sought after Highland Lakes. Updates include: new vinyl flooring in foyer, new carpet on basement stairs, completely updated half bath with new cabinet, mirror, toliet, lighting, and paint. Fresh paint throughout and new light fixtures. Siding, shutters, door lighting and exterior of the condo will all be NEW, THIS SPRING! Welcoming entry into cozy living room with oversized bay window, which can be filled with plants because of the warming afternoon sunlight! The perfect spot to gather with friends! Family room with updated paneling, and wood burning fireplace with new mantel and surround is so warm and inviting, especially in the cooler months. It creates a warm and secure environment and lovely ambiance. The updated kitchen is cozy and very well accommodated. The upper level features stairs leading to the extra large bedrooms and has an expansive wall area to display pictures or artwork. The master bedroom features two large front facing windows that allow the lovely streams of golden afternoon sunlight and is large enough to fit a king size bed, dresser, vanity, nightstands, chair and bookshelves. The guest bedroom is very large and can hold a daybed, a futon, a toddler bed, dresser and even a rocker or desk. A large wall of closets offers nice storage space! Located between the 2 bedrooms is a jack and jill full bath with double sink, large mirror covering the vanity and separate door for the commode. The outdoor space is big enough to have a get together with friends and family, fitting a large patio swing, large bbq grill, 2 patio tables and chairs, along w/flower pots and plants. Enjoy the evenings sitting on your patio listening to the ambiance and the songs of nature which create a very peaceful atmosphere. The three lakes in the subdivision make a great exercise routine. Great community w/sidewalks, common pool, tennis courts, and clubhouse. Northville School District
Source: REALCOMP #20250016839
Source: REALCOMP #20250016839
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.