15411 Governors Park Ln Upper Marlboro, MD 20772
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About this home
**NEW PRICE** A Balmoral beauty that is sure to please! This home is only six years young, has been lovingly maintained by the original owners, and the remainder of the builder's 10-year structural warranty conveys. The popular Versailles Model was NVR/Ryan Homes' largest home available in the community with over 6,500 square feet of space. A quaint covered porch is your first greeting upon visiting. Once inside you will find a floor plan with multi-generational living in mind featuring a main level en-suite with a custom built-in wardrobe and an easily accessible stall shower. The main level layout is a traditional center hall design with the living and dining rooms accented by structural columns. The rear of the main level opens to soaring 18' ceilings in the family room, which features wide plank engineered wood flooring, a gas fireplace, a ceiling fan, LED lighting, and a picturesque view of the wooded open space to the rear. The family room leads to a covered deck that is ideal for fresh air and relaxation - rain or shine. The kitchen adjoins the family room and is divided by a large prep island and breakfast bar, seemingly endless cabinet and counter space, stainless steel appliances, double oven, built-in microwave with external venting, and subway tile backsplash. The shaker style cabinetry is tastefully finished in light gray. The rear entry hall from the garage includes a convenient arrival center with bench, storage, and coat hooks, a powder room, a sizable planning desk and cabinetry, and a large walk-in pantry. The doors from the kitchen lead to a hard-scape patio, a fenced yard, and plenty of privacy - courtesy of the community open space to the rear and side of the property. A direct-set oak staircase with wrought iron balusters transports you to quite the surprise on the upper level - a fabulous 23' x 19' loft area that is ideal flex space for whatever you desire - big screen TV, pool table, etc. There are four additional bedrooms and three full baths on this level. The primary bedroom has an attached sitting area and dual walk-in closets that feature custom closet organizers. The primary bath includes a large shower with a seat and double vanity. Each of the remaining bedrooms has a sizable walk-in closet, and one of the bedrooms is another private en-suite. The lower level consists mostly of finished recreational space; with an additional unfinished area should you wish to expand even further. There is another full bathroom on this level, along with a study/lounge room for your more intimate gatherings. The lower level is externally accessible via a side door and stairs that lead to the driveway. The Balmoral Community is a series of cul-de-sacs and non-through streets, so traffic is minimal past this home. The community recreation center features a large outdoor pool, exercise room, and meeting space. A commute into DC takes approximately 30 minutes, 35 minutes to Annapolis, and 20 minutes to Joint Base Andrews. Shopping recently became much more convenient to the Balmoral community with the opening of the brand-new Giant Food-anchored South Gate shopping plaza, only a short 10-minute drive to the north.
Source: BRIGHT #MDPG2163118
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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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