Welcome to this spacious and beautifully-updated rancher, ideally located in the heart of Bel Air. This true 4 bedroom, 2.5 bathroom home offers the perfect blend of modern updates, comfort and space (over 2,725 square feet of finished living space). Step inside and you'll immediately notice the fresh LVP flooring throughout the main level. The sun-drenched living room opens to the dining room with brick, wood-burning fireplace to add charm and warmth to the space. Continue into the expansive gourmet eat-in kitchen with premium Dekton countertops, custom tile backsplash and enough space to move around freely. The rear kitchen door steps out onto a covered porch and large wood deck installed in 2020. There is an updated half bath is just off of the kitchen. Walking down the hall, you're greeted by 3 spacious bedrooms and a fully updated hall bathroom with modern pizazz! Downstairs to the lower level, the stunning primary bedroom suite awaits! Featuring a dreamy primary bathroom with separate soaking tub, walk-in shower and spectacular tile work throughout. Primary bedroom also boasts a large walk-in closet, recessed lights and a new ceiling fan. The basement level is rounded out by a bright Den with outside access, laundry room and plenty of storage. Outback, a greenhouse highlights the rear yard, situated next to a garden of raised beds with sturdy metal fencing surrounding. Backing to woods, a fenced rear yard offers the perfect place to unwind and enjoy this nearly half acre lot. A detached 2 car garage with electric, rounded driveway in the front and large parking area along the side ensure plenty of parking for your and your guests. Updates Include: AC in 2023, LVP Flooring 2023, Half Bath Remodel 2020, Garage Door 2021, Dekton Coutertops 2021, Primary Suite in 2018. Convenient to the areas finest dining and shopping, you do NOT want to miss this one! Schedule your showing today!
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.
