4391 Sandy Lake Rd Ravenna, OH 44266
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About this home
Discover this spacious Ranch home offering 2,311 sq. ft. of finished living space on a beautiful 2.91-acre wooded corner lot in Rootstown School District. Originally a 4-bedroom, 2 full bath home, a thoughtfully designed 2023 addition expanded the home with 2 more rooms, a large family room with sliding doors to the fenced-in backyard, and a full 8.5-course high gravel basement (ready to be finished to your liking) giving you a total of 6 bedrooms and 2 full baths! Inside, the kitchen comes complete with a refrigerator, stove, and dishwasher, and flows right into a dedicated dining area that’s perfect for family dinners or entertaining friends. Updates give peace of mind and this home features a new roof (2023), new furnace (2023) and a new septic system (2020). Step outside and you’ll find the start of your very own homestead — an above-ground pool (just waiting for a good cleaning and TLC to be summer-ready), a chicken coop and duck coop to start your backyard flock, and a fire pit area perfect for evenings under the stars. The land is open and inviting, offering plenty of space for gardens, animals, or simply enjoying the outdoors. A 2-car garage adds convenience. With modern updates, endless space, and country-living amenities, this Rootstown property is more than a house — it’s a lifestyle.
Source: MLSNOW #5160926
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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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