405 N Broad St Lancaster, OH 43130
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About this home
'Club 405' - A Historic Gem with Grand Entertaining Spaces and Timeless Charm. Step into history and elegance at the beloved 'Club 405,' located in the Historic Downtown Lancaster, a beautifully restored brick two-story home offering 3,269 square feet of gracious living space, perfect for hosting unforgettable gatherings or simply enjoying the finer things in life. This stately residence features 4 large bedrooms, 2.5 baths, and a layout designed to impress. The heart of the home is a grand formal dining room and an exquisite living room flanked by original pocket doors and expansive multi-pane windows, filling the space with an abundance of natural light. Rich in architectural detail, you'll find numerous fireplaces, a sweeping front staircase alongside a charming servants' staircase, and hallways lined with wainscoting and period craftsmanship. The home has been thoughtfully remodeled with modern comfort in mind—featuring new tile, quartz countertops, stainless steel appliances, fresh paint, new HVAC and hallways adorned with new carpet, while still preserving the original hardwood floors, trim, and ornate moldings throughout that tell the story of a bygone era. Enjoy quiet mornings or vibrant evenings on the wrap-around front porch, the perfect space to relax or entertain guests in classic style. Rarely does a home combine such historic character with modern updates and room to gather like this one. Come experience why they called it 'Club 405.'
Source: COLUMBUSOH #225026070
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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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