Don’t miss this incredible opportunity to add your own personal touches to this spacious, AS-IS 4-bedroom, 3.5-bath colonial in the sought-after Redland Station community, just blocks from the Shady Grove Metro station. Inside, you’ll find soaring vaulted ceilings, beautifully updated flooring, and abundant natural light streaming through generous windows that brighten every corner. Designed with both comfort and entertaining in mind, the main level offers a welcoming formal living room, an elegant dining room, and an open concept kitchen that flows seamlessly into the family room. The kitchen boasts rich wood cabinetry, a stylish tile backsplash, granite countertops, stainless steel appliances, and an island with bar seating, perfect for casual meals or morning coffee. The adjoining family room includes recessed lighting, elegant crown molding, and plenty of space to unwind or gather with guests, with a convenient powder room nearby. Upstairs, the owner’s suite impresses with hardwood flooring, a ceiling fan, and three separate closets. The updated ensuite bath offers a double-sink vanity, a tiled walk-in shower, and a jetted soaking tub that invites relaxation after a long day. Two additional bedrooms, each with hardwood floors and generous closet space, share a full hallway bath with a classic tub/shower combo. The lower level expands your living options with a spacious recreation room featuring an egress window, kitchenette with breakfast area, a separate exterior entrance through sliding glass doors, a large bedroom with window, and a full bath with added storage and laundry area on this level. This versatile space is ideal for an in-law suite, au pair quarters, home gym, or potential rental opportunity. Step outside to the multi-level deck, creating a perfect setting for outdoor entertaining, morning coffee, or quiet relaxation with no rear neighbors. The attached carport and driveway provide off-street parking for up to three cars, with additional street parking available. Major updates include a new roof (2023) and furnace/AC (2020). Enjoy the neighboring Blueberry Hill Park, The Grove with nearby shopping and dining options, and being just a short drive to all that RIO, Crown, and Rockville Town Square have to offer.
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.
