5851 S Franklin Rd Indianapolis, IN 46239
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About this home
Stop your scroll! Imagine living in this thoughtfully updated home with an inviting remodeled kitchen, a relaxing full-wall stone fireplace, and a backyard pool and cabana bar built for fun. This delightful 3-bedroom, 2-bath ranch is updated, well-maintained, and ready for you to move in. The heart of the home is the remodeled kitchen (2021), an inviting space featuring new cabinets, subway tile, and beautiful stained butcher block counters. It includes a full suite of stainless steel appliances (2020) and a bright space perfect for your everyday coffee or dinner with family and friends. Enjoy new laminate flooring (2024) and new recessed lighting (2021) throughout the main living areas. Relax in the family room centered around a welcoming full-wall stone fireplace and hearth. A French door opens directly to the patio, blending indoor and outdoor living. The new furnace (2023) offers peace of mind. The primary bedroom features plush new carpeting (2025) and a unique wood panel feature wall, and a full bath with shower. The two additional bedrooms also have fresh new carpeting (2025), and the guest bathroom is a stylish standout with a navy vanity and gold accents, floating shelves and a tiled tub/shower combo. Your Private Oasis Awaits- The backyard is an absolute summertime dream! The patio overlooks a fantastic in-ground pool complete with a diving board and slide. The pool cabana bar is the perfect spot to watch the game or relax poolside. Outside storage is covered with two new mini-barns. Location: Ideally situated just north of Franklin Central High School, moments from Wanamaker shops and local dining. Start Living-Move in just in time to create lasting holiday memories around that welcoming stone fireplace. This home is the backdrop for your best life, ready for fun, whether it's a staycation summer or a cozy winter. Make this dream your daily reality. Virtual tour and photos available soon, but schedule your tour now through Showing Time app
Source: MIBOR #22067707
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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.