8902 Taylor May Rd Chagrin Falls, OH 44023
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About this home
Introducing an extraordinary Chagrin Falls property that effortlessly blends charm with modern luxury. Set back from the road, this secluded retreat balances privacy and convenience. An updated 3-bedroom, 2-bath home offers a harmonious fusion of character and refined comfort. Sun-drenched interiors are complemented by a thoughtfully crafted layout, from the inviting living room to the expansive four-season room that seamlessly connects with the outdoor space. With 3 spacious bedrooms and 2 beautifully appointed baths, this home ensures convenience and style. One bath features a main-level laundry, adding ease to your everyday routine. The kitchen strikes the perfect balance between form and function, exuding warmth and inviting comfort. The unfinished basement offers vast potential, whether for additional storage or to be transformed into an additional living space. Recent enhancements include new high-end flooring, a durable metal roof, upgraded siding, windows, and electrical systems, while both the furnace and hot water tank are just a year old. Outdoors, a vast yard showcases an above-ground pool, creating an ideal space for outdoor relaxation and entertaining. Toward the rear of the property, a barn with a garage entrance and car lift adds both character and functionality. An upstairs residential unit, currently leased at $1,000/month with 8 months remaining, offers additional income potential. This property, rich in character and limitless in opportunity, is ready to elevate your lifestyle. Don’t miss the chance to experience its unique allure—schedule your private showing today!
Source: MLSNOW #5132578
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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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