25401 Farringdon Ave Euclid, OH 44132
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About this home
Walk into this absolutely gorgeous Bungalow home filled with natural light. This well-maintained residence has been updated over the past four years. Step through the front door into a cozy, spacious living room with a beautiful color palette. The first-floor features two bedrooms and a full bathroom, while a large private master suite awaits upstairs. The living room flows seamlessly into the dining area and updated kitchen, which includes all appliances that will transfer to the new owner. All window treatments will remain. Enjoy the newly built two and a half car garage and a huge, fenced in backyard perfect for relaxing, entertaining, and hosting parties. This home is your perfect retreat after a long day. The finished basement is themed around the current owner's sports passion, featuring plenty of storage space and a washer and dryer that will also transfer to the new owner. Schedule a showing today and make this wonderful home yours! Home will be POS Compliant. New roof 2025, Privacy fence 2025, Garage door 2024, Samsung front load washer and dryer 2024, Samsung kitchen appliances 2024, steel entry side door 2024, many updates in the bathroom 2024, basement walls sealed and painted 2023, Luxury Premium Floors with warranty (assumable if new owner wants it 2023), Home warranty provided and this home also features tilt in vinyl windows with premium blinds.
Source: MLSNOW #5168161
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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.