Welcome home to this beautiful, clean and maintained grand California rancher offering over 6,800 square feet under the roof, including approximately 3,408 square feet of above-grade living space on 2.52 acres. Lots of bright natural sunlight with quality premium Pella windows throughout and freshly painted on the main level. Offering 3-bedrooms, 3.5-bath, 2 laundry rooms and it is designed for comfortable main-level living. The open and spacious main level includes the gourmet kitchen, living room, family room, formal dining room, bedrooms, bathrooms, mudroom, and a laundry room. The primary bedroom has trey ceilings with recessed lighting, 2 large walk-in closet, remodeled bathrooms include a second bath and primary bath with double sinks. The primary bedroom has french doors that lead out to its own private Trex deck overlooking the partially wooded lot. The living room flows seamlessly into the kitchen with high ceilings throughout, shadow boxes in the dining room, well designed crown molding throughout with plenty of inviting space for everyday living and entertaining. Recent updates include refinished hardwood floors, new carpet with upgraded padding, fresh paint, and new electrical outlets, switches, and recessed lighting throughout. The kitchen is well appointed with granite countertops and center island, coffee bar, stainless steel appliances, gas range, electric double oven, new garbage disposal, and glass tile backsplash. Major system updates include a high-efficiency HVAC system (approx. 6 years old) and hot water heater (approx. 5 years old) and a 40-year roof from the original build in 2003. The partially finished walk-out lower level offers a recreation room, new full bathroom, new second laundry room, water filtration system, sump pump, and a 100-amp sub-panel, providing flexible storage, living or guest space potential. Car enthusiasts and hobbyists will appreciate the heated 4-car garage featuring a 9,000-lb automotive lift, gas heater, mini-split system, laundry sink, hot and cold water, and refrigerator water line. Exterior highlights include decorative quoins, decorative concrete walkways, resurfaced concrete, stone accents, landscape lighting, and an irrigation system for the front and side yards. The attic is spacious with new exhaust fans which open the possibilities of additional storage or living space. Outdoor amenities include a 24-foot above-ground pool with variable-speed pump, fiberglass filter, chlorinator, LED lighting, and a propane heater, along with a hot tub with a new spa pack and cover, outdoor shower, and enjoy your cool evenings roasting marsh mellows at the fire pit with an additional area to sit and relax. Extra features include an invisible dog fence and an ADT security system and a wifi Ecobee thermostat, Plenty of parking. Conveniently located near downtown Mount Airy, with easy access to dining, parks, golf, commuter routes, and nearby Frederick amenities. This home has an enduring appeal and true comfort, Its a must see!
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.
