12361 Echo Hill Pl Waldorf, MD 20601
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About this home
MOTIVATED SELLER! ANOTHER PRICE REDUCTION ALONG WITH SELLER OFFERING $5000 TOWARD BUYER CLOSING COST ! Three story brick front townhome in Adams Crossing. Step through the inviting foyer which has a coat closet and access to the one car attached garage. You then enter into the fully finished basement that offers versatility and convenience with additional living space. French doors open to fully fenced rear yard with 6' vinyl privacy fence, perfect for a play area for children to play or dogs to run. The spacious living room with lots of natural light flows seamlessly into an open concept-kitchen complete with granite countertops, breakfast bar, center island with bar seating, stainless steel appliances and pantry. Sliding glass doors from kitchen provide access to a private deck/balcony, perfect for morning coffee, entertaining, grilling or just relaxing. For added convenience, this level also includes a powder room. Upstairs, the primary suite boasts a vaulted ceiling. a generous walk-in closet, a full bath with double vanities and tile floor and a full walk-in shower. Two additional bedrooms and a full hall bath provide ample space for family or guests. Third bedroom is currently being used as extra closet/make-up room that will be a dream come true for the person who likes to shop. This space can easily be used as another bedroom, home office, etc. Laundry area is on this level for convenience. This property has been lovingly cared for by it’s original owner since its construction and blends comfort and style. 9’ ceilings and recessed lighting throughout house. Recently installed carpet and paint to add a fresh touch. With low HOA fees, this townhome is an excellent opportunity for those seeking a low maintenance lifestyle. THIS IS A GREAT BUY!
Source: BRIGHT #MDCH2046130
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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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