1346 E Caro Rd Caro, MI 48723
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About this home
Are you looking for a starter home? Or a retirement home? This 3 bedroom, 2 bath home is waiting for you. Main floor has a open space plan of the living room, kitchen and dining room. Master bedroom with master bath and walk in closet on main floor. Bathroom off of the kitchen has a walk in shower and the hooks ups for laundry so you don't have to go into the basement. Full basement, with some work this could be a great recreation room for family fun. There are also two rooms for extra storage. Upstairs has two bedrooms with a shared walk in closet and a hip closet for storage. You can access the sunroom that was added onto the back of the home from outside or off the kitchen. Garage is 572 sqft (dog kennel, lawn mower and snow blower do not stay). Back yard has lots of room for fun. Trees, room for kids to play and enjoy nature. Home is close to shopping, schools and hospitals. Caro is a great place to raise a family. Metal roof was put on in 2017. New gutters in 2024.
Source: REALCOMP #81025056495
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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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