2719 Arsenal St Saint Louis, MO 63118
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About this home
Experience the perfect blend of historic charm and modern luxury in this beautifully updated Victorian home. The main level features a character-filled living room with custom built-in bookshelves and a cast iron fireplace (gas or wood-burning), flowing into a stunning industrial-style kitchen. The kitchen boasts concrete countertops and flooring, custom cabinetry, stainless steel appliances, and a 6-burner range. A full bathroom with a clawfoot tub completes this level. Throughout the home, enjoy 10-foot ceilings and original hardwood floors. The second floor hosts the spacious master bedroom with a large walk-in closet, a second bedroom with private deck access, a full bathroom, and a convenient laundry room. A third bedroom and another full bathroom occupy the private third floor. Additional features include a basement with ample storage shelving, a fenced backyard with a deck and patio for entertaining, and a new dual-zone HVAC system. This exceptional home is perfectly situated near Tower Grove Park, local shops, and restaurants.
Source: MARIS #25063495
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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.