Welcome to the lake life! This beautifully maintained, 2007 Colonial, checks all the boxes. Offering over 3,300 sq. ft. above grade square footage, a seamless floor plan and lots of natural light, this home is sure to please even the most distinguished buyer. Enjoy seasonal lake views, elegant architectural details, and a spacious, open floor plan designed for comfort and entertaining. A grand two-story foyer, 9 ft. ceilings, double entry, and triple crown molding set the tone as you enter. The main level features formal living and dining spaces, a generous family room, and a dedicated library/office anchored by a double-sided propane fireplace. The gourmet kitchen includes cherry cabinetry, granite counters, a large island with breakfast bar, stainless steel appliances, and a large walk-in pantry—flowing seamlessly to the screened-in porch with Trex decking and ceiling fan. Upstairs, the grand primary suite boasts cathedral ceilings, an oversized walk-in closet, and a luxury bath with upgraded glass shower and soaking tub. Three additional bedrooms, including a Jack-and-Jill bath, and convenient upstairs laundry complete the level. The basement features a generous drop zone/small finished space, directly off of the oversized 2 car garage. So convenient for shoes, coats and any indoor/outdoor items. The real gem on the lower level is the expansive unfinished space. The sky is the limit with the possibilities. Imagine the future entertaining space, Game room, theater, playroom or additional storage space you could have. Back outside this home offers plenty of parking (a rare find in Lake Linganore), extensive hardscape with an outdoor oven, pergola, and thoughtfully added drainage around the property. The fenced yard (2018) backs to a non-buildable lot, offering added privacy. This home is meticulous. Located in the sought-after Lake Linganore community with access to lakes, trails, pools, and recreation—this home blends space, style, and setting in one exceptional package.
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.
