The highly sought-after Milan floor plan is nearly new inside! Designed with functionality in mind, it offers a warm, welcoming classic open concept floor plan. A charming full-width front porch invites you into the open foyer, with a dedicated Flex/office to the left of the entrance. Then, you pass by the formal dining room, perfect for entertaining. You will stop and pause in the kitchen. It is simply beautiful with a massive center island, and newer quartz counter space with lots of drawers and cabinets to the ceiling with added storage. You won't be disappointed! The family room is open and creates an impressive gathering space! Access the backyard wi an AMAZING custom covered screen porch and stamped concrete patio from the kitchen, extending your entertaining and living space to the outdoors. Note the rear foyer and a half bath lead to the garage entry. Head upstairs and you will find four well-appointed very spacious bedrooms. The owner's suite is large, with lots of windows, and a luxury bath with tub and free-standing shower, double sinks, and two huge walk-in closets. At the end of the hall, you will find a large walk-in laundry. The other three bedrooms share the hall bath. Head downstairs to the finished lower level and you will find a large recreation room with a a separate area perfect for an exercise space or media room as well as a separate large storage area. Now for some of the features of this home. It has 9-foot Ceilings, main level has engineered hardwood throughout, two ceiling fans, custom backsplash, gas cooking, a Lawn Sprinkler system, and the house was built with James Hardie Siding and a full-house Fire Suppression System. These last couple items help lower the cost of your homeowners insurance policy. ( So make sure you tell the Insurance Company when you order your insurance!) There's more. Potomac Shores residents pay $180 for HOA fees. The HOA fees include high-speed internet and trash service as well as access to The Shores Club, featuring 13,000 sq ft of recreation and entertainment spaces, including a full-size gym, pools, movement rooms, community gardens, event lawn, and so much more. There is a second event space and pool complex off River Heritage Blvd. The social committee hosts events for the entire community throughout the year. There is also a schedule of Events, classes, and Meet-ups. Think Caskers Club, Beer & Wine Club, Book Clubs, Paint & Sip, Education Meet-ups, and things for all ages. Potomac Shores is also home to an extensive trails system suitable for hiking and biking, and not to be missed. You're not just buying a home, you are buying into a lifestyle. Potomac Shores will have a VRE Station and a day-to-night town center in the future; both areas have started. There is a new Central Park Event area just below the town center area. Ask any question you like. We know Potomac Shores!
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.
