317 Mount Vernon Ave Grosse Pointe Farms, MI 48236
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About this home
Tucked on one of Grosse Pointe Farms' most desirable tree-lined streets, this beautifully updated Colonial blends timeless character with thoughtful modern upgrades. Sunlight pours through spacious rooms highlighted by gleaming hardwood floors, custom millwork, and a natural fireplace anchoring the inviting living room. The chef's kitchen is a showpiece-complete with stainless-steel appliances, corian countertops, and warm wood cabinetry-and opens to a charming dining area perfect for gatherings. Upstairs, three generous bedrooms offer comfort and style, complemented by a renovated full bath with elegant finishes. A finished basement extends the living space with a cozy recreation area, second full bath, and ample storage. Outside, enjoy summer evenings on the brick-paver patio surrounded by mature landscaping and a private fenced yard. With a two-car garage, newer mechanicals, and an unbeatable location near The Hill shopping district, top-rated schools, and Lake St. Clair, this home captures the very best of Grosse Pointe living-where historic charm meets modern convenience. Schedule your private tour today and experience the lifestyle waiting at 317 Mount Vernon.
Source: REALCOMP #58050190419
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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.