847 Churchman Ave, Beech Grove, IN 46107
3 beds · 3 baths · 2,581 sqft
Welcome to this beautiful 3 bed 2 1/2 bath ranch with a basement in the heart of Beech Grove. Starting on the exterior you have a fenced in front yard, large two car garage, ample parking, and partially fenced back yard, and spacious front porch. Heading inside to a large living room with fireplace, hardwood flooring, and lots of storage. Head into the dining room, perfect for hosting guests. Off the back of the kitchen is a bar space with a 1/2 bath. The kitchen features lots of cabinets and tons of pantry space. Heading down the hallway are the three bedrooms and two full bathrooms. The hall bathroom features a tiled shower with a walk in shower and new LVP! Heading into the primary suite with hardwood floors, large closet space, and full bathroom with walk in shower. Both additional bedrooms feature hardwood flooring. The basement is unfinished with lots of storage space. Close to local shopping and dining and best of all NO HOA!
Source: MIBOR #22026864
Financials
Source: MIBOR #22026864
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.