1218 Cold Spring Dr O Fallon, MO 63368
Your savings
About this home
MOTIVATED SELLER! Offering an ASSUMABLE LOAN with a 3.8% rate! Lower your payments and build equity! Welcome to this charming 2-story home featuring 4 spacious bedrooms, 2.5 baths and a brand new roof (5/2025)! The open-concept living room and kitchen seamlessly flow, making it perfect for gatherings and entertaining. Step out to the large, flat backyard to enjoy beautiful evenings under the stars. With newer hardwood floors, this property offers style and warmth, while the unfinished basement invites you to personalize the space to fit your needs. Ideally located across the street from a neighborhood park, tennis and basketball court, and walking trail, this home caters to an active lifestyle. The attractive price reflects the opportunity to update and truly make it your own. With its unbeatable location, charm, and value, this home is sure to move quickly—don’t miss out! **** Home Warranty offered. New Roof (May 2025), new outside deck and new water heater. Paint credit will be considered so buyer can choose their own colors.
Source: MARIS #25070175
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
If you find a better price on any home, we’ll match it.
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.