This spacious 5-bedroom, single-family colonial in the desirable Queens Chapel Manor neighborhood of Hyattsville has been professionally and extensively renovated with high-quality materials and modern finishes throughout. Key updates include a brand-new energy-efficient windows installed throughout the home, a brand-new roof, a new energy-efficient Carrier 3-ton HVAC system, fresh interior and exterior painting, and new luxury vinyl plank flooring for easy maintenance and contemporary style. The brand-new kitchen features elegant quartz countertops, a stainless-steel gas range, and a matching stainless-steel refrigerator. The updated bathrooms showcase luxurious porcelain tile from floor to ceiling on all surfaces paired with high-end vanities, creating a spa-like feel. Ideally located just minutes from the Prince George’s Plaza Metro station (Green Line) and West Hyattsville Metro station, this home offers exceptional convenience for commuters with quick access to Washington, DC (approximately 20–30 minutes by rail). Nearby amenities include The Mall at Prince George’s for shopping and dining, University Town Center, ALDI, Bestway, and other grocery stores, as well as multiple parks such as Magruder Park (with sports fields, playgrounds, and seasonal pool) and Heurich Park. Outdoor enthusiasts will enjoy proximity to the Anacostia Tributary Trail System and Northwest Branch Trail. The vibrant Gateway Arts District, community events, and festivals are also close by, along with easy access to major routes including US-1 (Baltimore Avenue) and I-495. The property is served by Prince George’s County Public Schools and sits near the University of Maryland College Park. This turnkey, move-in-ready home combines modern updates with a prime location—perfect for families, professionals, or investors. Schedule your showing today! Note: This house has been virtually staged.
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.
