5934 E Island Dr Unit 32 Ypsilanti, MI 48197
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About this home
Motivated sellers! Bring your best offer! Welcome home to this beautiful Cape Cod condo in the desirable Lincoln School District. Nestled back from the road in a peaceful, private setting yet still close to everything you need including shopping, and quick access to the highway. It's in walking distance to Ford Lake with a convenient trail leading right to the lake, the location also places you close to nearby parks and campground. This home combines privacy, charm and everyday convenience. Inside, nearly 1,900 sq. ft. of living space offers a thoughtful blend of comfort and style. on the main level, the primary suite provides a private escape with a spacious walk-in closet and a balcony for morning coffee and evening wind downs. The kitchen is designed with both elegance and function in mind, featuring granite countertops, stainless steel appliances, and a deep basin sink, making it as functional as it it is stylish. The great room boasts soaring ceilings and a cozy fireplace, creating the ultimate gathering space. Upstairs, a second-level loft overlooks the great room, offering versatility as an office, reading nook, or playroom. With 2 bedroom on the second floor, 2.5 bathrooms, a one car garage, and expansive 66' x 22' bonus room that can be transformed into a shoe room, boutique-style dressing area, or hobby space-this condo has it all. Make an appoint to see it today!
Source: REALCOMP #20251041716
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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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