Built in 2022, this beautifully maintained Serenade E model (Elevation H) in the highly desirable Village of Urbana offers 4 bedrooms, 3.5 baths, and three finished levels of modern, light-filled living. Entry Level: The lower level features a private bedroom with a full bath, ideal for guests, home office, or flexible living space. The rear-loading 2-car garage with openers provides convenient access. Main Level: The heart of the home offers an open-concept layout designed for everyday living and entertaining. The spacious living room includes a bump-out extension, creating additional square footage and natural light. The gourmet kitchen showcases: • Large center island • Granite countertops • 42" maple cabinetry • Pantry • Stainless steel appliances • Gas stove with oven plus additional wall oven • Built-in microwave • Refrigerator with ice maker and water dispenser • Dishwasher and disposal Just off the kitchen is a generous dining area that flows seamlessly to the covered outdoor living space, perfect for relaxing or entertaining year-round. Upper Level: Upstairs, the primary suite features a tray ceiling, walk-in closet, and en-suite bath with raised-height dual maple vanity with cultured marble countertops and a large walk-in shower. The front bedroom on this level includes a bump-out, adding extra space and enhanced natural light. An additional bedroom, a full bath, and a top-floor laundry with ceramic tile flooring and front-loading washer and dryer complete the upper level. Additional Highlights: • Oak stairs • Recessed LED lighting throughout • Luxury vinyl tile flooring with carpet in bedrooms • Energy Star appliances • High-efficiency gas heat • Tankless water heater • Cultured stone and vinyl exterior with architectural shingles Enjoy southern front exposure for bright, light-filled interiors and open views — with no homes directly in front. The home faces a large green space and is located across from the Goddard School and Sugarloaf Elementary School. Village of Urbana amenities include: • Three community pools (including one with lazy river, fountains, and slides) • Tennis courts • Walking and biking trails • Fitness center • Community garden Conveniently located near Urbana Market District, Giant Food, Urbana Library, commuter lot access, Downtown Frederick, and Montgomery County. Move-in ready and available for a quick settlement.
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.
