Why wait months for new construction and spend thousands more on upgrades when it's already done for you?! Welcome to 6938 Cardozo Street, a beautifully upgraded home in the sought after Woodridge section of Lake Linganore. Featuring a finished basement, covered and enclosed porch, expansive patio, fully fenced yard, solar panels, EV charging outlet, custom pantry, upgraded lighting, and established landscaping, this home offers the features buyers are often still budgeting for after closing on a new build. Situated on what many consider one of the most desirable streets in the neighborhood, directly across from open space and a neighborhood park, this 4 bedroom, 4 full bath and 1 half bath home combines premium location, thoughtful upgrades, and move in ready convenience. Inside, the main level offers a dedicated home office, spacious living area, and dining space designed for both everyday living and entertaining. The kitchen features white cabinetry, quartz countertops, coordinating backsplashes, a custom pantry, and upgraded fixtures that create a clean, modern feel. Upstairs, all four bedrooms are conveniently located alongside the laundry room. The primary suite features a statement wall, dual vanities, spacious shower, private water closet, and large walk in closet. One secondary bedroom also includes its own ensuite bath and walk in closet, perfect for guests or multigenerational living. The finished walkout basement adds even more flexibility with luxury vinyl plank flooring, a full bathroom, and a custom indoor playhouse. Outside, enjoy a backyard that is already complete with a covered and enclosed porch, expansive patio, fencing, and room to relax, entertain, and enjoy all that Lake Linganore living has to offer. Just steps from trails, parks, basketball courts, pools, lakes, and community amenities, this home delivers the lifestyle buyers love without the added expense, projects, and wait that often come with new construction. Located just steps from trails, parks, basketball courts, and everything Lake Linganore has to offer, this home delivers not just a place to live, but a lifestyle to love.
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.
