Welcome to 4103 Tottenham St., a spacious and inviting Colonial in the Villages of Urbana offering nearly 4,800 finished square feet designed for comfortable everyday living and effortless entertaining. With six bedrooms and four and a half baths, this home offers a warm, open feel balanced by thoughtfully defined spaces for work, gathering, and quiet retreat. Sun-filled formal and informal living and dining areas create flexibility for both special occasions and relaxed daily life, while the kitchen flows seamlessly into the main living area, forming the true heart of the home. A private first-floor office provides an ideal work-from-home space. Upstairs, five generously sized bedrooms and three full baths include a spacious primary suite with a private en-suite bath and walk-in closets, along with a convenient Jack-and-Jill bath connecting two bedrooms. The finished lower level expands the home’s versatility with a sixth legal bedroom, full bath, and abundant space for guests, recreation, or additional workspace. Outdoor living is equally enjoyable with low-maintenance Trex decking, and the expanded garage offers valuable storage and functionality. Located in Southern Frederick County, the Villages of Urbana community provides exceptional amenities including three pools, tennis courts, clubhouses, parks, playgrounds, walking and biking trails, and a full-service gym. The home is part of the Urbana school district and offers convenient access to I-270, Route 355, Frederick, Montgomery County, and nearby shopping, dining, the library, and community parks. Recent updates and added features enhance both comfort and efficiency, including new flooring throughout the family room, office, upper level, and basement within the past two years, recently serviced natural gas fireplace, both HVAC systems replaced in 2022, washer and dryer approximately one year old. Leased solar panels offer a reduction in electricity costs, an appealing benefit for electric vehicle owners. Security cameras (Vivint service) convey, along with the garage refrigerator.
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.
