991 Lilley Ave Columbus, OH 43206
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About this home
Opportunity knocks! This classic brick Tudor offers the rare chance to restore a two-family layout. Previously converted to single-family use by simply removing the upstairs unit's kitchen, the home still features separate living spaces, utilities, and mechanicals — making it a savvy choice for investors or multi-generational living. Step inside and you'll find soaring ceilings, fireplaces, original trim, and rich architectural character throughout. Unlock the full potential of this charming property and bring new life (and income!) to a gem with strong upside. Don't miss the chance to finish what's been started and turn this into a true two-unit beauty. This property also features two off-street parking spots out back, fenced front yard, newer mechanicals (water heaters 2019 and downstairs unit HVAC 2018, upstairs unit HVAC 2020), new windows in 2019. Shared basement is accessed by a door in the foyer, or has walk-out access to the backyard. In basement: washer/dryer and second hookups, two HVAC systems, water heaters, electrical panels and gas meters. Entire home professionally painted prior to listing. See A2A Remarks for more details.
Source: COLUMBUSOH #225038808
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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.