OUTSTANDING MAJOR PRICE IMPROVEMENT & BENEFITS FOR YOU!! COME READY TO MOVE IN BUYERS FOR THIS EXCEPTIONAL HOME AT AN EXCEPTIONAL PRICE AND A BEAUTIFUL PLACE TO CELEBRATE HOLIDAYS AND SPECIAL OCCASIONS!! Expansive Yard, open floor plan for the kitchen/kitchenette/family room with this lovely Florida Room with expansive windows. This fully updated Beautiful Move-In Ready home in lovely Bowie, MD. Located in the well sought after Community of Prospect Knolls, there is no Better Opportunity with this price improvement!! It is a breathtaking 5 Bedroom, 4 Bath home perfectly blends open concept and traditional layout elements, offering both formal and casual spaces for every occasion. Even Nicer it has NO HOA!!! This is an Owner's sale and not a Flip so much care was taken to update this home for you, the New Buyer, to make it Your Own and Enjoy!! Five Bedrooms on the Upper Level with Three full Baths on the Upper level. The 5th Bedroom is part of An Addition that was added a few years back to add space for this family home and can be used as an In-Law Suite, a Gen Z space, a Rental for a College Student or your own family member seeking their own area with an additional lower-level office/room space. The addition has its own ensuite that is situated at the end of a 60-foot hallway. The lower level has its own entrance door available and separate Heating/AC unit. On the Main Level, there is a half-bath, a lovely Formal Living and Dining Room. It is perfect for entertaining, with a newly renovated open kitchen with countertop seating and a spacious pantry. It flows seamlessly into the eat-in kitchen area and family room. Ample counter space makes it ideal for preparing and serving family meals. This home has tons of closet and storage space including walk-in closets and an additional private linen closet/storage closet in the main master bedroom. The Italian-inspired bathrooms are equipped with soft-closing cabinets and abundant storage space. Ready for its new owner, this spectacular home is move-in ready, showcasing all its upgrades. Experience the comfort, beauty, and convenience this property offers. Bring Your Offer - Motivated to Sell!!
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.
