This home Features an assumable 2.5% interest rate through Carrington Mortgage—an incredible opportunity for qualified buyers. Welcome home to this beautifully maintained Colonial-style single-family residence in the heart of District Heights! Built in 2001, this spacious home offers 3 bedrooms, 3 full bathrooms, and 1 half bath, along with a 2-car garage and two additional driveway parking spaces. Step inside to discover a bright and inviting layout filled with natural sunlight from the abundance of windows throughout the home. The elegant bay window in the front adds charm and curb appeal, while the wooded backdrop creates a peaceful, nature-filled retreat right in your backyard. The main level features beautiful wood floors, a welcoming family room, a formal dining room, and a cozy breakfast area and a versatile flex space that creates the perfect flow for entertaining. The kitchen is outfitted with stainless steel appliances, new countertops, a new refrigerator, and a gas stove—ideal for both everyday cooking and hosting guests alike. Upstairs, you’ll find spacious bedrooms with carpeting and generous closet space. The primary suite offers an ensuite bathroom with a jetted tub and double sinks, It also boast a generous sized walk-in closet and sitting area. Throughout the home there is stylish LVP flooring for durability and modern appeal. The fully finished basement expands your living space with a spacious recreation room, two bonus rooms, a full bathroom, and laundry area and storage—offering endless possibilities for a home office, gym, guest space, or media room. Enjoy outdoor living with a patio accessible through sliding glass doors at the lower level and a deck outfitted with retractable awnings overlooking the serene wooded backyard. Conveniently located near shopping, dining, and commuter routes, Don’t miss your chance to own this spacious, light-filled home in a convenient and desirable location!
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.
