Nestled in the serene community of Pine Grove Homes, this exquisite ranch-style residence offers a harmonious blend of luxury and comfort, perfect for those seeking an elevated lifestyle. Built in 1956 and thoughtfully renovated, this home boasts a timeless charm with modern amenities, ensuring a welcoming atmosphere for all who enter. Step inside to discover an inviting open floor plan that seamlessly connects the living spaces. The family room, adorned with elegant crown moldings and rich wood floors, flows effortlessly into the combination kitchen and dining area, creating an ideal setting for both intimate gatherings and grand celebrations. This residence features three spacious bedrooms, including a primary suite with a luxurious en-suite bath, providing a private retreat for relaxation. The additional bathroom is equally well-appointed, showcasing thoughtful design and modern finishes. The entry-level bedroom offers convenience and flexibility, catering to various lifestyle needs. Venture outside to experience the enchanting exterior features that enhance this property's allure. The extensive hardscape creates a stunning outdoor oasis, perfect for entertaining or simply enjoying the tranquility of nature. A personal pool invites you to unwind on warm days, while the patio and porch areas provide ideal spots for al fresco dining or morning coffee. The property is further complemented by a conditioned workshop and a shed, offering ample storage and workspace for hobbies. Located just blocks from the picturesque Rock Creek, this home provides easy access to water-oriented activities, including a nearby boat ramp and pier/dock. The community amenities foster a sense of connection and enjoyment for all residents. With a well-maintained condition and a generous lot size of 0.24 acres, this property is a rare find. The paved driveway and ample parking ensure convenience for guests, while the flood lights and street lights enhance safety and ambiance. This residence is not just a home; it's a lifestyle. Experience the perfect blend of luxury, comfort, and community in this exceptional Pine Grove property.
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.
