Welcome home to this stunning, 3-level lakefront townhome in the highly desirable Laurel Lakes community. Step inside to discover a bright and inviting main level, highlighted by a dramatic two-story foyer that flows seamlessly into an open concept living and dining area. Heading upstairs to the second floor, you will find a generously sized bedroom, a full bathroom, a convenient laundry area with a washer/dryer combo, and a massive loft that opens directly to your private deck overlooking the scenic lake. The entire top floor serves as a peaceful retreat, dedicated to a sprawling primary bedroom suite complete with an en-suite bathroom, a cozy sitting room, and a walk-in closet. Both full bathrooms were beautifully and completely updated in 2020, in addition to HVAC system replaced in 2015 and plumbing system replaced in 2021. To top it all off, the townhouse includes dedicated parking. Perfectly positioned in the Baltimore-Washington corridor, this location offers immediate access to major travel routes including Interstate 95, Route 1, Route 198, the Baltimore-Washington Parkway, and the ICC. For those who prefer public transit, the Laurel MARC Train Station is only minutes away, offering effortless rail access to Washington, D.C., Baltimore, and BWI Airport. Convenience is at your doorstep with top-tier dining, shopping, and entertainment just moments away. You are only a three-to-five-minute drive from the Towne Centre at Laurel and Laurel Lakes Centre. Whether you are sipping your morning coffee while looking out at the water or hosting friends in your spacious living areas, this townhouse truly has it all!
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.
