Nestled in the charming Buckingham at Belair community, this delightful Colonial home offers an exceptional floorplan with a perfect blend of comfort and style. With 4 spacious bedrooms, 4.5 bathrooms, additional living spaces at both the front and rear of the home, you'll be amazed at what this 2,844 sq ft home has to offer. Step inside to discover a warm and inviting interior featuring elegant crown moldings, ample recessed lighting, and a cozy breakfast area that beckons for morning gatherings. From the morning room one can access either of two equally large spaces at the back of the home, each featuring vaulted ceilings, ceiling fans, gable windows and double-wide sliding doors. Each is flooded with natural light and provides ample space for relaxing or entertaining. The kitchen is well equipped and includes abundant cabinet space, a wall oven, gas cooktop, low profile microwave, and large peninsula, making meal preparation a joy. The primary suite on the upper level boasts two full bathrooms, a luxurious soaking tub and huge walk-in closet, ensuring a private retreat. Additional highlights include an entry-level bedroom, perfect for guests, and a main floor laundry for added convenience. Outside, enjoy the serene surroundings on the rear deck or spacious front porch, ideal for outdoor relaxation. The property also features a water feature and a large 12'x12' shed with electric for gardening, hobbies, or just extra storage. The home also features a one-car garage with a double-wide driveway, enough room for 4 vehicles. Located in a vibrant neighborhood, residents benefit from nearby parks and community amenities that foster a sense of belonging. With easy access to public services and local attractions, this home is not just a place to live, but a place to thrive. Experience the warmth and charm of this wonderful community 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.
