1894 N State Rd Ionia, MI 48846
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About this home
Wow...here it is! Colonial Style farmhouse that has been a one owner, family loved home for 30+ years. 2500+ sq ft, ,5 Bed, 2 Full Bath 2+-story sits on 7 beautiful Acres of professional landscaping, trees and rolling hills. Dining room has classic pocket doors that lead into the large living room. Country kitchen includes all appliances and gives access to rear family room/den. Main floor laundry plus main floor bedroom makes for the perfect office space. Main floor laundry. Upper level has 4 good sized Bedrooms and a full bath. Original hardwood floors under the carpet. There is a bonus 3rd story that current owner utilizes for storage. Exterior features include a covered porch and huge deck area for enjoying the gorgeous setting and private country views. Don't miss the 32x40 Pole BarnNatural Gas and High-Speed Internet at your fingertips. Seller just installed a brand new HE Furnace. Property is extremely versatile in that it's located along a commercial high traffic corridor of M66. Perfect setup for your home and/or Business. 3- Phase power available at the Street. Perfect location and only a few minutes to town and quick 30-40 Min commute to GR or Lansing. Hurry to show!
Source: REALCOMP #65024037382
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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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