5012 W 8th Street Rd Anderson, IN 46011
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About this home
Have you ever dreamed of living on the river, well be prepared to be utterly charmed by the residence at 5012 W 8th Street RD, ANDERSON, IN! This single-family residence in Madison County is not just a house; it's a delightful adventure waiting to happen, and it's in such great condition! Imagine yourself, if you will, in the living room, gazing at the majestic beamed ceiling, a feature that adds a touch of rustic elegance, while the wood ceiling and crown molding whisper tales of yesteryear's charm. Picture hosting the most fabulous gatherings, where laughter dances beneath these architectural flourishes, creating memories that will last a lifetime! The kitchen, oh, the kitchen! It's not just a place to cook; it's a stage for culinary masterpieces, featuring a delightful kitchen bar where you can perch with your morning coffee, and a large kitchen island that's begging to be the center of your next baking extravaganza. Shaker cabinets stand ready to house all your gourmet gadgets, while the backsplash adds a pop of personality. The crown molding ties it all together with a flourish of sophistication. Let's not forget the charming porch, practically begging for lazy afternoons spent sipping sweet tea and watching the world go by, and the patio, the perfect spot for starlit soirees and unforgettable summer barbecues. And with a river view, you'll feel like you're living in your own private nature retreat, a place where serenity and style meet in perfect harmony. With four bedrooms and two full bathrooms spread across two stories, there's room for everyone to spread out and find their own little corner of paradise. All nestled on a sprawling 38333 square feet lot area. A 3 door pole barn has plenty of space to store essential equipment and all your toys for outdoor fun. Built in 1926, this home exudes character and history. This attractive property is ready to be the backdrop for your next chapter, a place where dreams take flight and memories are made.
Source: MIBOR #22067424
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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.