Welcome to 4606 Kiernan, a charming ranch-style home in the desirable Cherry Hill subdivision. This inviting three-bedroom, one-bath home is full of potential and ready for its next chapter. With a comfortable layout and welcoming spaces throughout, it provides a wonderful opportunity to add your own personal style and create a place to truly call home. Inside, the combined living and dining room offers a cozy setting for everyday living, family gatherings, and entertaining. The galley kitchen is designed for efficiency and provides direct access to a screened-in porch, creating a relaxing outdoor retreat. Beyond the porch, the spacious fenced backyard offers plenty of room for gardening, play, pets, or future outdoor enhancements. Each of the three bedrooms features built-in closets and shelving, providing practical storage while maximizing space. Two additional hallway closets offer even more convenient storage. A centrally located full bath completes the home's functional floor plan. An unfinished attic provides additional storage space and offers potential for future organization or expanded storage needs. Situated directly across the street from Cherry Hill Park, residents can enjoy beautiful mature trees, a playground, and a basketball court just steps from the front door, creating a welcoming neighborhood atmosphere with convenient access to outdoor recreation. Ideally located in College Park, this home is just minutes from the University of Maryland and offers convenient access to I-495 and I-95, making commuting throughout the Washington metropolitan area simple. Outdoor enthusiasts will appreciate that the Paint Branch Trail borders the neighborhood, providing a scenic route directly to the University of Maryland campus while connecting to Lake Artemesia and the Trolley Trail for miles of walking, running, and biking opportunities. The home is also conveniently located near the Greenbelt Metro Station and the MARC Train Station, offering additional commuting options. Shopping, restaurants, parks, and everyday amenities are all nearby, adding to the appeal of this well-located home with endless possibilities to make it 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.
