***WELCOME HOME TO THIS BEAUTIFULLY MAINTAINED TOWNHOME IN THE HEART OF MONTGOMERY VILLAGE, OFFERING COMFORT, CONVENIENCE, AND THOUGHTFUL UPDATES THROUGHOUT***IDEALLY LOCATED NEAR MAJOR COMMUTER ROUTES INCLUDING I-270 AND THE ICC, WITH EASY ACCESS TO SHADY GROVE METRO, METRO BUS STOP, AND AMTRAK***THIS HOME IS PERFECT FOR THOSE SEEKING BOTH CONNECTIVITY AND COMMUNITY LIVING*** THE MAIN LEVEL FEATURES HARDWOOD FLOORS AND A BRIGHT, OPEN LIVING ROOM THAT FLOWS SEAMLESSLY INTO THE KITCHEN***THE KITCHEN IS WELL-APPOINTED WITH MODERN CABINETRY AND UPDATED HARDWARE, GRANITE COUNTERTOPS, AND A SLIDING GLASS DOOR THAT OPENS TO A SPACIOUS DECK—IDEAL FOR EVERYDAY LIVING AND ENTERTAINING*** UPDATED BLINDS, A CEILING FAN, AND A CHANDELIER OVER THE DINING AREA COMPLETE THE SPACE***UPSTAIRS, YOU’LL FIND TWO GENEROUSLY SIZED BEDROOMS WITH CARPETING AND CEILING FANS. THE PRIMARY BEDROOM OFFERS MULTIPLE CLOSETS AND DIRECT ACCESS TO A SHARED FULL BATH FEATURING TILE FLOORING, A VANITY, UPDATED LIGHTING, AND A SHOWER/TUB COMBINATION***THE SECOND BEDROOM IS FILLED WITH NATURAL LIGHT AND PLENTY OF CLOSET SPACE***THE FULLY FINISHED LOWER LEVEL ADDS VALUABLE LIVING SPACE AND VERSATILITY, FEATURING RECESSED LIGHTING, CARPETING, A RECREATION ROOM THAT COULD FUNCTION AS A THIRD BEDROOM, A FULL BATHROOM, AND A WALK-OUT TO THE BACKYARD PATIO***THIS LEVEL ALSO INCLUDES A LAUNDRY AND UTILITY ROOM, ALONG WITH MULTIPLE STORAGE AREAS***OUTSIDE, ENJOY A BACKYARD WITH BOTH A DECK AND PATIO—PERFECT FOR RELAXING OR ENTERTAINING***THE HOME HAS BENEFITED FROM NUMEROUS MAJOR UPDATES, INCLUDING A ROOF REPLACEMENT (2020/2021), REPLACED WINDOWS, A REPLACED FRONT DOOR, AND REGULARLY SERVICED HVAC***WITH ITS PRIME LOCATION, SOLID UPDATES, AND FLEXIBLE LIVING SPACES ACROSS THREE FINISHED LEVELS, THIS MONTGOMERY VILLAGE HOME IS A WONDERFUL OPPORTUNITY FOR TODAY’S BUYER***COME AND SEE IT BEFORE ITS GONE!!!
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.
