6816 Oak Lake Dr Indianapolis, IN 46214
Your savings
About this home
Nestled among a quaint little neighborhood, this single-family residence isn't just a house; it's a launchpad for living your best life! Get ready to unleash your inner interior designer because this place is practically begging for your personal touch. Imagine waking up in one of the four bedrooms, sunlight streaming through the windows, ready to tackle the day with gusto; with two full bathrooms and one half bathroom, mornings just got a whole lot smoother, no more battling for mirror time. The 2193 square feet of living area offers space to spread out and get comfortable, whether you're hosting a game night or curling up in front of the wood burning fireplace with a good book, while the 18992 square feet lot area provides privacy galore and plenty of room to stretch your legs and let your imagination wander. Speak of space, how does a 4 car garage stack up! Not to mention a great tree house or she shed space to get away! Built in 1988, this two-story residence is waiting for someone to make it their own. This is more than just a dwelling; it's a canvas awaiting your masterpiece, so come and paint your future here.
Source: MIBOR #22068836
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
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.