COMING SOON! Full description and professional photography forthcoming. YOU CAN BE CLOSED & SETTLED IN YOUR NEW HOME IN TIME FOR THE NEW SCHOOL YEAR! Be sure to save this one to your favorites-it's REALLY nice! Expecting to be available for showings on July 15. 3 bedrooms, 2.5 baths, 1-car garage with custom GARAGE TEK organization system plus driveway parking. Updates & upgrades you ask? You bet! BRAND NEW ROOF, BRAND NEW PAINT throughout the home! Family room with NEW carpeting. Gleaming HARDWOOD FLOORING in most areas of the home-WOW! Modern kitchen with STAINLESS-STEEL appliances, quartz countertops, & breakfast area. Great room; living/dining room combination featuring a 3-sided GAS FIREPLACE. Primary bedroom suite with vaulted ceiling, walk-in closet, en-suite full bath with deep soaking tub, separate shower, and dual sinks. Bedrooms 2 & 3 share the hall full bath and are accented by high vaulted ceilings! Residents enjoy an active homeowners’ association with outstanding amenities, including multiple swimming pools, tennis and pickleball courts, bike, jog, and walking paths, volleyball and basketball courts, picnic areas, tot lots, and so much more. The highly regarded and tremendously desirable Russett community is strategically located between Baltimore and Washington, DC, offering exceptional convenience. Just minutes from Fort Meade, NSA, APL, major commuter routes, the Laurel MARC–Camden Line train station, shopping, dining, historic Laurel, and BWI Airport. Everything you need is right here waiting for you! Clear your calendar, call your agent to schedule your showing today! All information deemed accurate but not guaranteed.
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.
