Experience the perfect blend of luxury and convenience in this expansive 5-bedroom, 3.5-bathroom home situated in the highly desirable Manor Knolls community. *** *** Designed for both everyday living and entertainment, this well-maintained home combines timeless style with modern functionality. Walking into this gem, you'll immediately embrace the open and elegantly tiled foyer. The entire main level to include a formal living room, formal dining room, and a grandeur family room tethered to an ornate fireplace all feature rich hardwood flooring creating a sophisticated look that is both beautiful and easy to maintain. *** *** The home's centerpiece is a breathtakingly updated kitchen that seamlessly combines style and functionality. This gourmet space features rich solid wood cabinets that provide ample storage and timeless elegance, paired with durable granite countertops ideal for meal preparation and entertaining. The culinary experience is enhanced by sleek stainless steel appliances and a stunning custom backsplash that adds a unique artistic touch to the room. *** *** This home offers exceptional flexibility to suit many lifestyles. Transitioning from the culinary aroma into the warmth of the sun, is a bright, inviting sunroom flooded with lots of natural light, creating a quiet relaxing retreat perfect for morning coffee. *** *** The upper level is completed with 4 generously sized bedrooms, to include a master suite and bath. The hall bath has been beautifully updated with floor and wall tiles, creating a sophisticated aesthetic with minimal upkeep. *** *** Extending on this, the basement features elegant tile flooring flowing continuously throughout the entire lower level and a huge recreation area. A spacious, 5th bedroom is located on this level adjoined by a 16 x 11 room that can function as a yoga or hobby room. An additional room is prepped and ready to be converted into a second kitchen, presenting incredible potential for an in-law suite, rental income opportunity, or a dedicated catering space for large gatherings. The full bath located on this level has also been updated with tile and wall flooring giving it a sleek and stylish look. *** *** Step outside to enjoy a private backyard, where a spacious deck overlooks a peaceful wooded view, providing the perfect setting for summer gatherings and barbecues and a serene and tranquil getaway. *** *** Living in this home means embracing a serene lifestyle surrounded by the lush greenery of nearby Watkins Regional Park and Walker Mill Regional Park. Golf enthusiasts will enjoy premier access to Lake Presidential Golf Club and Oak Creek Golf Club. You are minutes away from a vibrant dining scene featuring local favorites and convenient options near the new medical campus. Experience the benefits of immediate proximity to the award-winning University of Maryland Capital Region Medical Center, Northwest Stadium, Woodmore Town Centre and Largo Plaza, all offering unmatched convenience with major retail and grocery stores such as Costco, Wegmans, Target, Giant Food, PetSmart, Lowes, major banks and many more. *** *** With seamless access to US 301, US 50, MD-4, and I-495, commuters and recreation enthusiasts alike will appreciate the convenience and accessibility this location offers. Don't miss the opportunity to make this your next home!
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.
