4810 Hickory Rd West Farmington, OH 44491
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About this home
This would make the perfect AirBNB, Summer resort or an all year around residence! It's beautiful - you will be impressed with it's unique architect-designed lighted bridge in the backyard nestled on a wooded lot with a creek. Located in this small community of W. Farmington, this gorgeous home features 3 bedrooms and 1 bath with a high-end walk-in tub, central air, and an open concept kitchen-living room design with vaulted ceiling. The wood burning fireplace is a showcase that includes a gorgeous insert with blower. Home has a one of a kind hand-made crafted solid oak cabinet for storage in the master bedroom. There is a tankless water heater to save energy, money and utility bills. It has a tucked-away laundry room with plenty of storage, a whole-house water purification system plus Reverse Osmosis water for drinking. The French doors accent the mudroom which leads to a stylish, deck with plenty of room for outdoor entertaining. It also includes a single car garage, large pole barn with wood stove and wired electric. All appliances stay including stand alone 8000 watt generator. The designated fenced-in area is a safe-haven for children, animals or plant life! Do not miss this one-of-a-kind property!
Source: MLSNOW #5014391
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.