Space, flexibility, and thoughtful updates come together in this beautifully expanded split-level home, ideally situated on a desirable corner lot in Silver Spring. Designed to adapt to the way you live, the home offers a highly functional layout with multiple living and entertaining spaces, generous bedroom accommodations, and the versatility to accommodate guests, extended household members, or work-from-home needs. The main level welcomes you with a bright formal living room that flows seamlessly into the dedicated dining area, creating an inviting space for both everyday living and special occasions. The kitchen sits at the heart of the home, connecting effortlessly to an expansive family and recreation room where vaulted ceilings and abundant space make it the natural gathering place for movie nights, celebrations, or simply relaxing at the end of the day. Down the hall, three spacious secondary bedrooms share a well-appointed full bathroom, while the thoughtfully added primary suite offers a true retreat with its own private en-suite bath and peaceful separation from the secondary bedrooms. The lower level adds an entirely new dimension of flexibility. A sprawling recreation space is complemented by an open living and dining area, a convenient kitchenette complete with a gas range and countertop workspace, an additional bedroom, a full bathroom, and a versatile bonus room perfectly suited as a home office, fitness room, playroom, or creative studio. Whether accommodating long-term guests, creating dedicated work-from-home space, or simply enjoying additional room to spread out, this level offers endless possibilities. Equally impressive are the home's recent improvements, providing both comfort and peace of mind for years to come. The HVAC system and water heater were replaced last year, while the roof is just a year and a half old, allowing the next owner to move in with confidence. Step outside to discover an outdoor space designed for both entertaining and everyday enjoyment. The fully fenced backyard offers an ideal setting for summer barbecues, outdoor dining, gardening, or play, highlighted by an expansive deck overlooking the yard and a charming gazebo that creates the perfect shaded retreat. Positioned on a corner lot, the property enjoys added privacy, enhanced curb appeal, and an abundance of usable outdoor space rarely found at this price point. Conveniently located with quick access to the ICC, I-495, and Glenmont Metro, commuting throughout the region is effortless while everyday conveniences remain just minutes away. Enjoy weekends exploring the scenic trails of Wheaton Regional Park, strolling through the renowned gardens at Brookside Gardens, shopping and dining at Westfield Wheaton, or taking advantage of the vibrant restaurants, entertainment, farmers markets, and cultural events found in Downtown Silver Spring. Combining generous living space, versatile design, major system updates, and an exceptional location, this is a home that offers both immediate comfort and lasting value.
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.
