111 N Anderson St Sandborn, IN 47578
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About this home
This early 1900's home offers a blend of Victorian and farmhouse charm with it's unique rooflines, covered porch, hardwood floors and wood trimwork, and lots of cozy nooks throughout. The floorplan offers 4 bedrooms and 4 full bathrooms. On the main level you'll find a large kitchen with walk in pantry alongside. There is a breakfast nook and an adjacent space that could be used as a formal dining room or siting area. The living room offers a fireplace mantel surround, and an adjacent cozy space perfect for an office, keeping plants over winter and more. There are 2 bedrooms on the main level alongside a full bath. Main level laundry. Upstairs you'll find a generous primary bedroom with tons of storage and closet space and a full bath. The other bedroom offers a full bath alongside. The home has a main level sun porch with access to the partial basement for more storage, and easy access to the hvac, recently replaced, tankless hot water heater. Upstairs the owners put in mini split systems to keep the house properly heated and cooled throughout. The lot size is 1.54 acres and features multiple garage space, plenty of parking. A must see for those seeking a spacious floorplan with lots of storage. High speed internet available.
Source: MIBOR #22035665
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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