202 W Lakeview Dr Nineveh, IN 46164
Your savings
About this home
Welcome to your slice of peaceful lake life on Princes Lake Northeast Lake! This adorable bungalow sits on a extra large corner lot with big flowering trees, a fenced backyard that leads right to the water, and a large wrap-around deck perfect for soaking in the views. Inside, you'll find a unique layout with two bedrooms on the main living floor and a third bedroom with private exterior access - ideal for guests or a studio space. 2 main floor living spaces, currently the owners use one family room for a main level primary bedroom. The home features new flooring, a beautifully remodeled kitchen, and updated bathrooms, with just a bit of finishing work left to make it your own. A spacious metal two-car garage/barn (with gravel floor) offers plenty of storage or workshop space, and the owner has started revealing the home's original terra cotta brick under the siding - a timeless touch ready to shine again. There is a separate detached 1-car garage with additional workshop space as well. The large back yard/side yard is fenced with extra tall privacy fencing. The front of the property is wide open with lots of green space to enjoy. The waterfront is accessed by wooden stairs through the backyard. Enjoy the quiet, easy pace of lake life and make this charming property your very own retreat! Property being sold as-is. Property is being sold together with neighboring lot. Both lots together equal 1.25 acres.
Source: MIBOR #22069207
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.