402 Ann Arbor St Manchester, MI 48158
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About this home
If the character of original woodwork, large spaces flooded with light, and storage galore are high on your wish list, then this IS THE ONE! In the charming town of Manchester, just 25 minutes from Ann Arbor, this 1913 Victorian-era vernacular home is full of lovingly cared-for original character like trim, doors, and flooring. Every day life is carefree with newer plumbing, wiring, roof, and windows. From the wrap-around front porch, you enter through the front door into the Living room. You're struck with the large picture windows, original bi-fold parlor door, and the way the spaces flow from front to back of the house. A formal dining room leads to not only an office/laundry(also 4th bedroom!), half bath and stairs, but also leads to a large eat-in kitchen at the back of the house.If the character of original woodwork, large spaces flooded with light, and storage galore are high on your wish list, then this IS THE ONE! In the charming town of Manchester, just 25 minutes from Ann Arbor, this 1913 Victorian-era vernacular home is full of lovingly cared-for original character like trim, doors, and flooring. Every day life is carefree with newer plumbing, wiring, roof, and windows. From the wrap-around front porch, you enter through the front door into the Living room. You're struck with the large picture windows, original bi-fold parlor door, and the way the spaces flow from front to back of the house. A formal dining room leads to not only an office/laundry(also 4th bedroom!), half bath and stairs, but also leads to a large eat-in kitchen at the back of the house. Upstairs, all 3 bedrooms are really sizeable and give you plenty of space for your treasured items. Don't forget to notice that near the full bath at the top of the stairs is a whole-house attic fan. It will keep your house cooler and energy bills lower! Down the back stairs(yes, there are 2 sets of stairs!) and beyond the kitchen, you'll find a huge back deck that has lots of tree shade for entertaining on those summer nights! Just beyond the de
Source: REALCOMP #81025029273
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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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