You must see this beautiful colonial with a huge addition including an oversized garage in desirable Bond Mill Park to appreciate all the extras! The living space inside this home will be very surprising. The original flow is that of a center hall colonial with 4 bedrooms and 2 full baths upstairs. Remodeled baths including brand new "Bathfitters" tub/shower in the hall bathroom. Hardwood floors and new carpeting are in the bedrooms. En suite primary bedroom has hardwood floors, a full bath with updated shower and walk in closet. On the main level the foyer opens to the center hall with a formal living room on one side and the family room with brick fireplace on the other. Hardwood floors are throughout most of the original portions of the home, including the stairs to the second floor. In the center of the home, the butlers pantry is conveniently located between the kitchen and formal dining room. Great place for a charging station with plenty of cabinetry storage. The rear corner room is the sunroom with cathedral ceiling, 2 skylights and brick floor. Perfect room for plants, hobbies or a playroom/exercise room. Bright, airy and full of natural light. The breakfast room is adjoining the kitchen and offers a casual dining area with a great views out the slider. This kitchen is larger than the original floor plan offered. With added cabinets, SS appliances including new stove and exhaust hood. The double wide pantry is incredible with plenty of storage space. Granite counters with built in wood cutting board. Off the kitchen is the back hall with storage closets, utility sink and the access to the oversized garage. Inside the garage you will have plenty of room for storage in addition to your vehicle. The space is deep and offers access to the backyard or stairs down to the basement. The addition to the home included the added space in the basement. A workshop with cabinets, huge laundry room, utility room, den and the very spacious rec room with the 2nd wood burning fireplace. New carpeting throughout the lower living areas. Outside the lot has beautiful trees and shrubs. There is a playset in the rear and partially fenced. The huge deck has been resurfaced and is a multi tiered deck with planters. Solar panels will convey. Home features natural gas heat and hot water. West Laurel is a great community outside of the city limits of Historic Laurel. Minutes to I95, Rt 29, ICC and other major routes, MARC and commuter buses. Shopping at the Burtonsville Shopping Centers or Laurel Centre. Recreation includes Supplee Park, Fairland Park or you can join the West Laurel Pool Club, Fairland indoor pools or ice rinks. This home is ready for quick occupancy! Freshly painted and move in ready.
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.
