Discover your home at 5544 Old Colony Court, where modern convenience meets timeless comfort. Nestled on a spacious corner lot in White Plains, MD, this beautifully maintained 4-bedroom, 3-bathroom gem spans 3,710 square feet and boasts thoughtful upgrades that make it truly one of a kind. With an incredible VA assumable rate of just 2.125%, this home offers a rare opportunity to secure a fantastic deal while enjoying every feature it has to offer. Step inside to find a bright and inviting foyer that sets the tone for the entire home. The main level includes two bedrooms, one of which is currently used as a home office—perfect for remote work or creative pursuits. A full bathroom and a convenient laundry room with a front-loading washer and dryer on this level, along with direct access to the oversized two-car garage with garage openers. At the heart of the home, the open-concept kitchen is a chef's dream. It features a large granite-topped island, stainless steel appliances, gas range with over the range microwave, a roomy pantry, and plenty of cabinetry to keep your space organized and clutter-free. The kitchen flows seamlessly into the dining area and cozy family room, where a gas fireplace adds warmth and charm. Just off the family room, step out onto the deck overlooking the fully fenced backyard—an ideal space for summer BBQs, gardening, or simply soaking up the sun. The primary suite on the main level is a private retreat, offering a spa-like bathroom with linen closet complete with a garden tub, separate shower, toilet room, and a custom designed large walk-in closet. Head downstairs to the finished lower level, where you'll find even more to love. This space includes a generously sized bedroom with a private bath that's perfect for guests or extended family, as well as a fully equipped gym with rubber flooring, mirrors, and barres for stretching. A spacious entertainment area, complete with gleaming wood floors, opens directly to the backyard, providing a wonderful flow for indoor-outdoor gatherings. This home is loaded with extras that make life easier and more enjoyable. Solar panels transfer free and clear to the new owners, offering significant energy savings for years to come. An in-ground irrigation sprinkler system keeps the lush lawn looking its best with minimal effort. A VIVINT security system provides peace of mind, and the ample storage space throughout the home ensures everything has its place. From its stylish design and modern amenities to its unbeatable VA rate and energy-efficient solar panels, this move-in-ready home is a rare find. Don’t miss your chance to own this spectacular property—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.
