48 N Audubon Rd Indianapolis, IN 46219
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About this home
Nestled in the heart of Indianapolis, Indiana, 48 N Audubon RD presents a single-family residence that whispers tales of a bygone era. This two-story dwelling, built in 1910, offers a generous 2240 square feet of living area, inviting you to create memories within its walls. Imagine mornings spent in the four bedrooms, each a personal retreat designed for rest and rejuvenation. The expansive 10629 square feet lot provides ample space for gardening, outdoor entertaining, or simply savoring the tranquility of your own private oasis. With a history spanning over a century, this property offers a unique opportunity to own a piece of Indianapolis' past. Broker is owner for the past 32 years. Many upgrades and updates. Mechanicals include a commercial natural gas tankless water heater, an electrostatic air cleaner on furnace, a whole house water filtration system that creates extremely healthy drinking water out of every faucet. Energy Star appliances. This house has an amazing floorplan with high ceilings, Front and back foyers and staircases. A happy house for family gatherings and events. It was built by German Immigrants in 1910-1911. Pocket Doors, beautiful heavy woodwork still natural/unpainted on 1st floor. Infrared Sauna in basement and a really cool worktable that was built in the basement a long time ago! It has a walkout basement and a drive through driveway. A wonderful front porch for porch gatherings and an extra-large deck with an arbor. Seller has been a broker for 40 years so nothing will surprise or offend her in an offer, and we will respond. I am looking for a buyer who will love this house as much as I have for the past 32 years.
Source: MIBOR #22043109
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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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