Rarely does a home offer this much space, flexibility, and value in such a desirable Silver Spring location! Situated on a quiet cul-de-sac and expansive corner lot, this beautifully updated split-level features over 2,600 above grade square feet of versatile living space with an impressive array of thoughtful recent renovations. Freshly painted throughout with refinished hardwood floors, recessed lighting, ceiling fans, updated windows, and an expanded floor plan designed for today's lifestyle, this home is truly move-in ready. The spacious primary suite offers a walk-in closet, while the thoughtfully designed bedroom addition provides the perfect space for a private office, lounge, nursery, or potential 5th bedroom. The expansive family room addition, with wood-burning fireplace, creates endless possibilities for entertaining, multi-generational living, work-from-home flexibility, or bonus recreation space. Private-entry areas and a dedicated laundry room with exterior access add even more convenience and versatility. The updated kitchen features granite countertops, stainless steel appliances, a brand new refrigerator, an eat-in breakfast nook, and a convenient pass-through to the dining room for seamless entertaining. All three bathrooms have been beautifully refurbished, offering a fresh, modern feel throughout. Additional improvements include freshly planted landscaping along the front of the home, a newly laid sidewalk from the driveway to the laundry room door, a charming fence enclosure for the recycling bins, a brand new heating and air secondary unit, gutter guards throughout, a brand new dryer, and a custom built shed in the backyard for even more storage and functionality. Step outside to enjoy multiple patios and a spacious backyard designed for gatherings, relaxation, and outdoor living. Located in the highly desirable Kemp Mill/Silver Spring area near parks, shopping, dining, commuter routes, Metro access, and everything Montgomery County has to offer, and just minutes from the beloved Northwest Branch Trail, this home delivers the perfect blend of comfort, functionality, and long-term value. Opportunities like this do not last, schedule your private showing today before someone else calls it home!
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.
