1909 W 74th St Cleveland, OH 44102
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About this home
Stunningly restored colonial nestled in the vibrant Detroit Shoreway neighborhood. This home seamlessly blends modern allure with historical charm. Step into the open-concept first floor, where abundant natural light streams throughout the living, dining & kitchen areas, along with LVT flooring, & a cozy fireplace for those chilly Cleveland nights. The heart of this home, the kitchen, is a home chefs dream! Quartz countertops, ample cabinetry, pantry, appliance package inclusive of a gas range & farmhouse sink, all thoughtfully arranged around a spacious dining area. Step through the sliding glass door to access the private patio, ideal for alfresco dining & gatherings. Completing the main floor is a tasteful powder room, underscoring the home's thoughtful design. Venture to the second story to discover two inviting guest bedrooms, each promising size, comfort & closet space. A third room on this floor offers an adaptable office or flex space catering to remote workers requirements or personal hobbies. This second floor is also complemented by a meticulously designed full bathroom featuring a custom tile shower/tub combo & convenient laundry facility. The crowning feature of this home lies on the third floor—the primary suite. Vaulted ceilings & a generous walk-in closet enhance the sense of luxury, while the en-suite bathroom, with its walk-in tile shower & designer floor tiles, promises an oasis of calm & glamour. A full basement offers ample storage & additional laundry area! Outside, the oversized front porch & rear patio present charming spaces for relaxation, accented by greenspace. A detached two-car garage provides convenient parking & storage solutions. Enhancing its financial appeal this home offers Tax abatement 2035! With updated HVAC, electrical systems, windows, roof, plumbing, fixtures, & appliances all under five years old—it assures modern convenience & peace of mind. Proximity to Edgewater Park, downtown Gordon Square all within walking distance!
Source: MLSNOW #5117107
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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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