Welcome Home to this meticulously renovated 4-Bedroom & Den, 3-full-bath, 2 Fully FINISHED LEVEL residence that sits on a sprawling 1.31 acre lot, offering a perfect blend of contemporary luxury and serene country living. We invite you to come see this stunning modern transformation in gorgeous Howard County. Some of the key features of this "like-new" home include: Sophisticated Interior Finishes: - Fully reimagined kitchen featuring NEW granite countertops and NEW stainless steel appliances - Three bathrooms with NEW fixtures, valves & hardware, including an owner's en-suite rain shower with a built in seat & heat lamp - a NEW hall bath with a modern dual-sink granite top vanity. NEW toilet, NEW fixtures and a lower-level guest suite with a BRAND NEW full bathroom with oversized shower. Interior includes: - Bright, airy interior with over 44+ new LED recessed lights. - A tasteful mix of NEW LVP flooring and NEW plush bedroom carpeting. - A NEW high-efficiency mini-split system for year-round comfort in the Lower Level - Fresh Paint, NEW Interior Doors, NEW Laundry Room and Mud Room with sink and Folding Area Extensive Exterior Upgrades: - NEW 30 year shingle roof, NEW gutters with trim wrapped, NEW Downspouts and a NEW pressure treated wood rear 23 x 21 deck access off the dining area. NEW Side entrance retaining wall, A private, fenced-in yard with nice landscaping and 2 NEW retaining walls, one wood and one capped cinderblock. - NEW Hot Water Heater, NEW Well Pump Filters - An expanded, side-loading 2-car garage with extra wide "workshop" area --* EXTRA SPACE for parking for an RV or additional toys ** Prime Location: Situated within the highly sought-after Howard County School District feeding to Glen ELG HS - Over an acre of land [ 1.31 acres ] providing rare privacy while remaining close to local amenities. House set back off the road. Open House Sunday 1-3 PM.
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.
