1118 Quince Apple Pl Davidsonville, MD 21035
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About this home
Wow, this house is gorgeous! It's got the best layout I've ever seen. It's hidden away on the fringe of the city and nestled in the beautiful Rutland Estates on a quiet cul-de-sac. Relax and listen to the birds singing and the leaves rustling in the peaceful country neighborhood. When it's time to head out, you are only 5 minutes from Route 50 (but you would never know it). This home really has it all. The grand family room, opens to the kitchen features a cozy fireplace. Home chefs will absolutely adore this kitchen with double ovens, stainless steel appliances, island with second sink and breakfast bar. The formal dining room is a bonus in this open floor plan offering a dedicated space for those more formal occasions and opens to a screened in deck overlooking the beautiful backyard. The main level also offers a bedroom that can be made into a sitting room, home office or anything your heart desires. Gorgeous, gleaming oak wood flooring on the main and upper levels are just the icing on this delicious cake. Upstairs features the master ensuite and three additional nicely sized bedrooms. A partially finished lower level with a walk-out entry offers a place to watch movies, unwind, play games, create the man cave of your dreams and more. Lower level has been roughed in for a kitchenette and full bathroom. This home completes its awesomeness with a 2-car garage and driveway to fit your extended family.
Source: BRIGHT #MDAA2120534
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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.
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