8631 Maycrest Dr, Saint Louis, MO 63123
3 beds · 2 baths · 2,348 sqft
Charming, Updated Brick Ranch in Affton – Ideal for First-Time Buyers! This updated brick ranch in Affton is a fantastic opportunity for first-time homebuyers, offering both style and function. The open floor plan includes a bright living room, a cozy dining area, and a flexible bonus lounge space that could serve as an office, media room, or playroom. The kitchen combines original charm with modern updates, featuring granite countertops, electric stove, dishwasher, and a charming brick backsplash. The main level includes 3 spacious bedrooms and an updated full bathroom, while the finished basement provides additional living space with a bonus room, full bath, and ample storage. Updates include a newer water heater, newer HVAC, newer roof, and newer windows. Out back, enjoy a fenced yard with mature trees, plus an attached 1-car garage. Don’t miss out on this affordable and well-maintained home—schedule your tour today!
Source: MARIS #25020159
All values shown are estimated costs / mo.
Source: Public records
Source: MARIS #25020159
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.
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 of Equal Opportunity Act.