5700 S 100 W, Pendleton, IN 46064
4 beds · 2 baths · 1,875 sqft
Back on market- fell thru due to inspection issues. Current inspection can be sent to prospective buyers. Step inside to find a warm and welcoming living area, ideal for gatherings and everyday living. The large eat-in kitchen provides lots of space for the busy family. This home has four bedrooms, three on the main level and the primary large primary bedroom located upstairs has large closets and its own bathroom. In addition, the upstairs has a small loft that can be used as a tv room/ playroom or small office. One of the highlights of this property is the large near 1/2 acre lot and fully fenced backyard for summer barbecues, children playing, and pets enjoying the freedom of a secure outdoor space. Newer roof, facia, gutters, windows, siding, exterior doors, garage door, exterior paint and trim painted all in 2018. Upstairs vanity in primary bedroom is for master bath but was never installed. Check with tax records on taxes. NOTE: The master shower has never been used by these sellers. NOTE: Fireplace has never been used by sellers. Meridian Title to hold earnest money. Home to be sold "AS IS"- seller cannot help with repairs.
Source: MIBOR #22023977
Financials
Source: MIBOR #22023977
Source: Public records
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.
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