3356 Daleford Rd Cleveland, OH 44120
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About this home
Beautiful architecture inside and out on this brick beautiful French Normandy home has 3 bedrooms on second floor and a bath and a half and a full bedroom and bath with a tub on the third floor. Lovely hardwood floors throughout the home. Leaded glass windows bring in lots of daylight to the living room, sunroom, dining rooms. The living room features a marble fireplace with wooden mantel, attractive built-in mirrored cabinets with hardwood flooring. Formal dining room and updated kitchen with granite countertops and walnut cabinets and built in electric stove in the peninsula separating the kitchen from the breakfast room. Screened in rear porch with new finished porch balcony above. The master bedroom features built-in shelves and an extra shower room. The updated second floor bath has a ceramic floor and ceramic tub surround. The third-floor bedroom and separate bath are ideal as a guest room or for teenagers who want their own space. The lot is large for the area and features a 2-car detached garage which faces west. Daleford is a lovely tree-lined street in the Fernway neighborhood.
Source: MLSNOW #5162179
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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.
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