53246 Sophia Dr Shelby Township, MI 48316
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About this home
Buyer backed out three days prior to closing. Home inspection was good, appraisal was good, Clear to close was issued, closing was set and the buyer decided to walk away. Their loss is your gain! Grab your bathing suit & a towel, it's time for a pool party!! This gorgeous Shelby Twp. brick ranch has it all. Spacious living room open to the updated kitchen w/Frigidaire Gallery Appliances. Chef's dream gas cooktop w/premium hood vent. Soft close cabinets & drawers. Built in stove/microwave. Wine/beverage mini frig. Hardwood floors. Amazing full bath w/double sinks, granite counters, Heated simulated wood ceramic floors which are temperature controlled. Oversized stand up shower with premium tile, even a tile soap/shampoo ledge, plus more sprayers than your local carwash. Family room has a gas fireplace w/beautiful ledgestone surround & lots of recessed lights. The family room leads to a summer paradise!! 20x13 sunroom overlooking an amazing inground pool surrounded by a variety of beautiful flowers. When you are not getting refreshed in the pool, you can relax under the shade sail & listen to the serenity of the pool fountains. This backyard paradise comes with everything except the pool boy. 9ft, pool table in the basements stays. This home is very updated and ready for immediate possession.
Source: REALCOMP #58050184084
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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.