5601 Sandstone Ave Kokomo, IN 46901
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About this home
Welcome home to this spacious and stylish 2445 sq ft two story home in Judson West subdivision. This Alexander floor plan built by Citation Homes is only 6 years old and offers 4 bedrooms and 2.5 baths, with all bedrooms conveniently located on the upper level. The main level features foyer and arched entry to a flex room that could be used as a formal dining room, an office, or a playroom. The eat-in kitchen impresses with quartz countertops, stylish tile backsplash, walk-in pantry, and stainless steel appliances, and island with breakfast bar seating open to a large great room. A bright sunroom addition adds lots of natural light and space for entertaining. Upstairs, the primary suite includes a full ensuite bath with a walk-in shower featuring ceramic tile surround, twin sink vanity, and large walk-in closet. 3 additional spacious bedrooms, along with a laundry room and a full guest bath complete the home's interior. You can also live it up outdoors with a dream patio! Relax in the hot tub, lounge in the shade provided by the canopy, or hang out with family and friends by the tiki bar or fire pit, all surrounded by a full wood privacy fence! The 3 car attached garage and lofted shed provide all the space you need for storage.
Source: MIBOR #22068437
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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.
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