4261 Brest Rd Newport, MI 48166
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About this home
Gorgeous updated home with a view of Lake Erie. This perfectly manicured property with a traditional floorplan has far too many highlights to fit into this space. Quiet and peaceful neighborhood with the year-round beauty of Lake Erie. During your showing, sit on the porch and just listen to the water, bald eagles are always in view over the lake. In the updated backyard, you will see and hear a variety of birds daily. Every room in this home has been updated, both the living room and office have built in Klipsch speakers for entertaining and productivity. Take note of the pass through between the kitchen and the dining room, the pantry area is really convenient. As you will see on the floorplans, storage was a priority in the planning of this home. The large attic space on the second floor is easily accessible and could even be used as a studio. Roof replaced in 2018, new commercial grade HVAC and hot water tank in fall 2024. Located in the award-winning Jefferson School District, you will enjoy all of the perks of Monroe County and remain close to the action of Detroit to the North and Toledo to the South. The marina is available to join and dock your boat within walking distance. Showings begin on Friday, July 11, 2025.
Source: REALCOMP #20251015798
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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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