***What a GORGEOUS home located in the HAMPTONS in amenity rich Lake Linganore with trails right in your own backyard***Only 5 years young and shows like a model***Located across the street from Blue Heron Elementary School***This immaculate sunlit Hudson model with over 4000 square feet, features an open concept floor plan with 3 fully finished levels with 4 bedrooms, 3 full bathrooms, a large open Loft, and a main level Library/Office. The moment you walk onto the lovely front porch, you experience the warmth and welcome this home offers. Upon entering the home, you are greeted with a Library/Office and a Foyer that opens to a Great Room with a stone fireplace, a separate Dining Room with many windows, a Gourmet Kitchen with stylish cabinetry, a huge island with seating, stainless steel appliances including a wall oven & built in microwave, a stove fueled by natural gas, a lovely tile backsplash & granite counter tops & a door to an incredible maintenance free 16' x 32' deck with pavilion & stunning views, check out the pictures, wow!! A Main level bedroom with a full bathroom & an arrival center complete this level. Luxurious Owners Suite includes a Tray ceiling, 2 large walk-in closets & a spa-like bathroom with walk in shower! 2nd floor laundry for convenience & function! The Basement is massive & includes a Theatre Room for cozy movie watching, a huge recreation room, a walk out to a patio, and a storage room with a sink and toilet and full bath rough in. LVP flooring, new carpeting, walk in closets with custom shelving, whole house generator, wood for firepit, 2 car garage & plenty of street parking too, and so much more! Cinch Home Warranty included! SUNBATHE AT THE BEACH, SWIM, BOAT, FISH, HIKE, ENJOY COMMUNITY EVENTS, IT IS A GLORIOUS LIFESTYLE!
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.
