Price Just Slashed! Don't Miss This Deal.. MOTIVATED SELLER! As new as it gets. This home features 3 bedrooms, 2 .5 bathrooms, hardwood floors, second floor deck off the kitchen, rooftop deck and one car rear loading garage. The entry level features tile flooring and an office / zoom room / flex space, large closet and garage entry. The garage has shelving for additional storage space. The main level is ideal for entertaining with open concept living room, dining room, kitchen and powder room. The kitchen features granite counter tops with a breakfast bar, ample cabinet/storage space and a rarely available and highly sought after, second floor deck which is great for grilling and entertaining! The upper level features two great size bedrooms with carpet, generous closet space, full bathroom in the hallway with double sink vanity and laundry. The top floor features the primary bedroom with carpet, a huge walk in closet, full bathroom with double sink vanity, walk in shower and access to the rooftop deck. The rooftop deck has amazing views of the sunset. The existing window treatments. The community amenities include the historic Lustine Center which was a former car dealership that was renovated and repurposed in 2007 as part of the EYA development of the community -it now serves as the Arts District Hyattsville community center. The Lustine Center has a lounge, a playroom, a boardroom and the fitness center which was updated in 2018. The community has two playgrounds, a picnic area, access to the trolley trail and a large field. The Arts District Hyattsville Shuttle operates Monday-Friday during morning and afternoon rush hours. It runs a circuit between the community and Prince George's Plaza Metro (Green Line). The community is situated within 2 miles of College Park Metro Station, Prince George's Plaza Metro Station and West Hyattsville Metro Station. Route 1, Route 50 and Route 295 are a short drive away. Several local restaurants are within walking distance - Organic Market is located just a couple blocks away with Whole Foods, Safeway, Aldi and Giant as well as The Mall at Prince George's are all less than two miles away. Schedule your tour today!
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.
