862 Keystone Dr Cleveland, OH 44121
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About this home
Perfect opportunity for an owner-occupant or investor looking for an investment property in the highly desirable Cleveland Heights area. Located on Keystone Road off Monticello Blvd, this 4-bedroom home is filled with potential and timeless charm. Inside, you’ll find a spacious living room with a fireplace, formal dining room, and a kitchen with a great layout ready for your updates. Beautiful original hardwood floors, built-ins, and vintage details showcase the home’s classic character. A half bath on the main level adds convenience for guests and everyday living. One of the bedrooms features a walk-out porch—an ideal spot to enjoy morning coffee or unwind in the evening. An enclosed year-round porch offers additional living space perfect for relaxing in any season. The partially finished basement includes a second fireplace and a built-in wooden bar, making it the perfect space for entertaining or a cozy retreat. Outside features include a vinyl and stone exterior, fenced backyard, and 2-car detached garage. Whether you’re ready to renovate and flip, update and rent, or make it your own, this property delivers incredible upside in a sought-after neighborhood close to schools, parks, shops, and dining. Property is being sold as-is and buyer will assume point-of-sale violations.
Source: MLSNOW #5167946
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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.