Welcome Home to 7608 Quincewood Court. This stunning townhome is move in ready. The layout is incredible with every room being oversized. You have a large foyer with custom built ins. The kitchen is oversized and has stainless steel appliances and solid surface countertops. You can enjoy the pass through to the very large dining room with a custom lighting fixture. The living room is enormous and is flanked with large windows allowing ample sunshine. There is also an oversized powder room on this floor. Upstairs you have a large primary suite with a walk in closet and a full bath. There are two well sized other bedrooms as well as a hall bath. The lower level enjoys incredible ceiling height and a true walkout with no stairs to your garden. There is a wood burning fireplace to enjoy those chilly evenings. There is a large bonus room that is finished with custom shelving that does convey. A massive laundry room with ample storage and incredible functionality. The HOA is extremely well run and is very reasonably priced. There are two parking spots (numbers 5) right out side with ample visitor parking. The location is amazing with an easy walk to the Shady Grove Metro, lots of shopping and ample commuter routes nearby. You have an amazing resource in Lake Needwood with water activities, hiking and camping. You also have a highly regarded golf course close by and a fantastic farmers market within walking distance on the weekends. This is the best priced home per square foot when comparing the upgrades and the quality of life.
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.
