551 W Bridge St Plainwell, MI 49080
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About this home
Nestled on a beautifully treed lot spanning over an acre, this stately Victorian home blends timeless charm with modern comfort--an extraordinary find within the city limits. Boasting over 4,500 square feet of finished living space, this grand residence offers a rare combination of privacy, space, and character. From the moment you arrive, you're greeted by the iconic Victorian architecture-- a welcoming side porch, and tall bay windows that flood the home with natural light. Step inside to soaring ceilings, rich hardwood floors, intricate moldings, and period details that echo a bygone era. The home features 6 spacious bedrooms, including 3 with private ensuites, ideal for multi-generational living or hosting guests in comfort. Formal living and formal dining rooms are perfect forfor entertaining, while cozy sitting areas and reading nooks invite quiet moments. The expansive kitchen has been thoughtfully updated, and is flooded with natural light and overlooks the casual dining area and family room. With ample space for a home office, studio, or even a library, this property offers both flexibility and grandeur. All this, just minutes from city conveniences, schools, parks, and culture. A spacious barn is a bonus feature in the backyard. A rare urban retreat that feels like a country estate, originally owned by Dr. Pipp and his family.
Source: REALCOMP #66025015145
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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.