1704 Iroquois St Detroit, MI 48214
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About this home
Welcome home to this incredible colonial located in Historic Indian Village. Expertly blending the best of early 20th century character and modern convenience. One of the most stunning central entryway doors ever invites you into the spacious living room which features a gorgeous fireplace, or the formal dining room which flows into a light drenched sunroom overlooking the private backyard. Custom Scavolini kitchen with built-in Miele appliances, super convenient pot filler faucet and gleaming quartz countertops - simply perfect for any chef! Peep the original ice-boxes that now double as storage in the corner. On the second floor, you will find a luxurious primary suite and recently renovated bathroom with high end finishes and attention to the smallest detail, like the heated floors and bidet toilet! Three additional bedrooms and a second full bath with gorgeous, original terrazzo floors. The third floor offers two additional bedrooms and a third full bathroom, perfect for a guest suite. The backyard offers a quiet retreat with raised garden beds, and tall walls for excellent privacy. Speaking of excellence, your location could not be better with dining and shopping within easy walking distance. Just steps to Barkside, Two Birds, Mollicone Park, Sister Pie, The Velvet Tower and more. Plus, only a short drive to Downtown, Belle Isle & Eastern Market! Schedule your private tour today!
Source: REALCOMP #20251030001
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.