105 Caswell Dr Indian Head, MD 20640
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About this home
5.375% ASSUMABLE LOAN- Also Eligible for 100% financing - Up for sale is an absolutely beautiful new model with all of the bells and whistles. This gorgeous home is 2 years young and still like brand new. There is an abundance of living space with a wide open floor plan on the main level. Entertain your guests with a gourmet kitchen, oversized cabinets, and a beautiful island with seating. The main level has a half bath and opens to a nice elevated deck with privacy fencing left and right, with a nice green view. Enjoy a perimeter unit with no facing rear neighbors. The lower level features a beautiful multi-use room with a walkout door to the patio, garage access, a half bath, and a foyer. The upper level is absolutely beautiful. The primary bedroom has a tray ceiling and an ensuite bath with dual shower heads and gorgeous tile upgrades. The laundry is on the upper level for convenience. This unit is waiting to be your beautiful new home.
Source: BRIGHT #MDCH2045144
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FAQs
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.