20740 Marter Rd Grosse Pointe Woods, MI 48236
Your savings
About this home
Come live the good life in this classic 4 bedroom, 2.5 bath colonial located in the sought out area of Grosse Pointe Woods. Home features an updated eat in kitchen with granite countertops, cherry wood cabinets, and stainless steel appliances. Hardwoods throughout, open concept from your kitchen into the spacious living room with fireplace. Formal Dining off the entry. You will love the extra large primary with 2 closets and updated ensuite. Three additional nice sized bedrooms upstairs with full hall bath. Large backyard with covered brick paver patio, & firepit great for entertaining. Convenient mudroom with storage area off of garage. Full size basement great for storage or extra recreation space. Exclusive access to GPW Lake Front Park that borders Lake St. Clair and boasts the largest outdoor swimming complex in Michigan! Includes tennis/ pickleball courts, playgrounds, harbor/ marina, boardwalk/ fishing terrace, activities building w/ indoor basketball court, racquet court, work out equipment, miniature golf, and more! Highly ranked school district of Grosse Pointe. Few blocks from the lake, golf clubs, local restaurants, and shopping on Mack Ave. Fireplace converted to gas 2020, ADT Security System 2020, New HVAC System 2020, New Humidifier 2020, Hansen's Windows in main living room 2021, all toilets 2019, carbon monoxide/ smoke alarms on every level, R 38 Attic Insulation 2020, Freshly painted front door/ shutters. Come make this home yours!!
Source: REALCOMP #20251023512
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.