841 E Hudson Ave Madison Heights, MI 48071
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About this home
Beautiful Madison Heights brick ranch fully renovated in 2019! Move-in-ready! The kitchen features white shaker style cabinets with stainless pulls and offers stainless steel appliances. Updated counters tops and vinyl flooring. This home boasts ample space to provide for eat in kitchen dining as well as a dining area off the kitchen. The massive window in the living room allows for warm natural lighting to shine in, adding that good energy to your living space for you to enjoy year round. The bathroom is clean and bright with modern standards and updates. The updated doors and hardware add a traditional feel to the home. The huge laundry room serves as a utility room, additional storage and offers attic access. Closets throughout the home are large and add function to your household. The updated furnace, water heater, electrical and plumbing provide peace of mind. Enjoy a fully fenced in yard with a recently added storage shed. The simple landscaping makes yard maintenance easy and inexpensive. Your view of the park outside your living room window is exceptional! Come see this home before its too late!
Source: REALCOMP #20251050202
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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.