391 W 375 N Anderson, IN 46012
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About this home
Located at 391 W 375 N, Anderson, Indiana, this single-family residence in Madison County presents a wonderful opportunity to establish your roots. Built in 1949, and Totally remodled in 2025, with everything new from ground up, this property offers a canvas for creating a comfortable and personalized living space. With four bedrooms, this home provides ample space for rest and relaxation, allowing each member of the household to enjoy their own private sanctuary. Imagine the possibilities for creating personalized retreats, hobby rooms, or home offices within these versatile spaces. Each bedroom offers a unique opportunity to tailor the space to individual needs and preferences. Two full bathrooms provide convenience and functionality for the household. Envision starting your day with ease and comfort, knowing that these well-appointed spaces are designed to meet the demands of daily life. These essential spaces offer a practical foundation for a comfortable living experience. Spanning 1642 square feet of living area, this residence offers room to move and grow, where each space provides an opportunity to create lasting memories. The 48787 square feet lot area offers opportunities for outdoor activities, gardening, or simply enjoying the fresh air, providing a sense of privacy and tranquility. Imagine the possibilities for creating an outdoor oasis, perfect for relaxation and entertainment. This 1.5 story home, built in 1949, and totally rebuilt, with everything new, is waiting for you to make it your own. The American Sycamore Tree out front is the same as the custom countertops in the kitchen.
Source: MIBOR #22053133
Neighborhood
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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.