Nestled in the heart of Bowie New Town Center, this charming Colonial townhouse offers a perfect blend of comfort and convenience. Built in 1993, this well-maintained interior row home boasts 1,286 square feet of thoughtfully designed living space, making it an ideal retreat for those seeking a vibrant community atmosphere. As you step inside, you'll be greeted by a warm and inviting ambiance, highlighted by a cozy fireplace that serves as the focal point of the living area. With four spacious bedrooms, including a master suite that promises restful nights, this home is designed to accommodate your lifestyle needs. The main level features an open layout that seamlessly connects the living room, dining area, and kitchen, creating an inviting space for everyday living. The well-appointed kitchen is ready for your culinary adventures, while the adjacent dining area is perfect for hosting dinner parties or enjoying casual meals. Outside, the property offers convenient parking options with an attached garage and driveway space, ensuring that you'll never have to worry about finding a spot after a long day. The neighborhood itself is a treasure trove of amenities, with parks, shopping centers, and dining options just a stone's throw away. Enjoy leisurely strolls through nearby green spaces or take advantage of the local shops and restaurants that make Bowie New Town Center a vibrant place to call home. With no pool to maintain, you can spend your weekends exploring the community or relaxing in your private outdoor space. This home is not just a place to live; it's a lifestyle choice that embraces the joys of community living while providing the comfort and privacy you desire. Experience the warmth and charm of this delightful townhouse in Bowie New Town Center, where every day feels like a retreat. Don't miss the opportunity to make this inviting space your own!
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.
