A STUNNING SHOWCASE IN WESTLEIGH COMMUNITY! Welcome to this beautifully updated 4 BR, 2.5 BA stunner on a charming cul de sac in a prime North Potomac location in the Wootton HS Cluster! NEW ROOF, HVAC, hot water heater all replaced in 2022 and more upgrades in this beautiful Westleigh home. GORGEOUS CURB APPEAL with a large front and back yard and peaceful patio to sit and relax and greet the wonderful neighbors. Enter through the stained glass front door to all refinished hardwood floors and fresh paint throughout, hall closet, formal living room on the left and on the right, cozy FAMILY ROOM with wood burning fireplace, crown molding and double French door access to the spacious deck. Completely renovated powder room with new vanity and floors. Spacious EAT-IN KITCHEN features honeycomb floor tile (redone 2022), pantry with built-in shelving, granite countertops and BREAKFAST BAR with dining room to the side and another set of double doors to the deck. Enjoy the great outdoors in this INCREDIBLE BACKYARD featuring an OVERSIZED DECK with 2 built-in benches, STAMPED CONCRETE PATIO to the side perfect for summer night cookouts and stairs to the WALKOUT BASEMENT below. Fully fenced backyard planted for year-round color and additional shed (conveys). UPSTAIRS, you’ll find a linen closet, new paint, light fixtures and refinished floors. The owner’s bedroom features spacious closet with built in shelving, ensuite bath with walk-in shower, tile and modern colorway. Three additional bedrooms (four total) with generous closets, and renovated hallway bath with marble floors, ceramic tiles and bathtub. WALKOUT BASEMENT features new carpet (2022), recessed lighting, extra storage under stairs, huge extra closet space, and WALKOUT space to the amazing backyard. Laundry room in utility room and TRANE HVAC and water heater all upgraded in 2022. One car garage with extra storage including built in shelving, cabinetry and pegboard. Upgrades include new roof (2022), new water heater and HVAC (2022), new carpet (2022), and new paint throughout (2026). All of this walking distance to the parks, playgrounds and trails that are a hallmark of life in Westleigh, and minutes driving to Fallsgrove, Kentlands, Rio, Crown, 270 and more. What a gem!
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
