5412 Bombay Dr Indianapolis, IN 46239
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About this home
This two story single-family residence (maintenance free exterior, shaker siding, attached 2 car garage) is an inviting home, and is ready to move in and begin creating new memories. The heart of this home resides in its large kitchen, with the upgraded shaker cabinets & kitchen peninsula that offers bar stool seating and is a wonderful place for additional meal preparation space or casual dining with friends and family. The kitchen offers a large pantry, crown molding on cabinets, and all kitchen appliances are included. The home offers 3 large sized bedrooms, 2.5 baths, large loft that can have many different uses to suit your needs. The loft space could be the needed play area for the kids, office, family game night area, family room or even a 4th bedroom. The main floor laundry room offers additional space to hang clothing, and the washer and dryer are included with the home. Retreat to the comfort of the primary bedroom, where a tray ceiling adds an architectural touch, creating an airy and spacious atmosphere; this private space provides a serene escape at the end of the day. The primary bedroom suite offers a bathroom with a touch of luxury and all the amenities you need, with a double vanity and grooming seating area, a separate commode room for added privacy, a separate shower and garden bath tub. The additional 2 bedroom's offer plenty of room and closet space. The large backyard offers a patio to enjoy your outdoor space with room to barbeque, garden & play. With its well-considered features and inviting atmosphere, this home offers a delightful haven for creating lasting memories.
Source: MIBOR #22048962
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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.