6238 E Southport Rd Indianapolis, IN 46237
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About this home
Prepare to be wowed by the 3 Bed/ 2 Bath residence awaiting you on this serene 4 acre plot of land, right in the heart of Franklin Township. This single-family home is not just move-in ready, it's an invitation to start living your best life. Imagine yourself in the living room, with the lovely view of the private pond, either just for the aesthetics or for the fisherman of the house. It also boasts a fireplace for cozy evenings, and a sunroom for entertaining friends and family. Picture yourself crafting culinary masterpieces in the kitchen, where large countertops gleam under the light, the backsplash adds a pop of personality, and the large kitchen island is a gathering place for friends and family. Venture outside and discover the possibilities that await you. Picture yourself enjoying the water view of the private pond while sipping your morning coffee or hosting unforgettable gatherings under the stars. Along with the massive tree-lined driveway leading to the home, the back of the property offers a poll barn, detached garage, room for many vehicles/equipment, and other outbuildings. This home offers an irresistible blend of comfort, style, and outdoor splendor that is waiting for you to make it your own.
Source: MIBOR #22046603
Loan details
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Close stress-free in 45 days, handled start to finish by Roam.
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If you find a better price on any home, we’ll match it.
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.