16195 Wilkerson Pl Brandywine, MD 20613
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About this home
Take advantage of an assumable VA loan with a 2.375% interest rate! Discover over 72 acres in Brandywine, MD, located in Charles County, ideal for horses, livestock, or hunting. Nestled on the property is a charming ranch-style home showcasing an open floor plan with modern updates and a traditional layout. The main level features brand new flooring throughout, beginning in the sun-filled living room with hardwood floors that continue into the dining room. The dining room provides access to a spacious covered deck, perfect for relaxing or entertaining, and flows seamlessly into the beautifully updated kitchen. The kitchen boasts quartz counters, a subway tile backsplash, 42” shaker-style soft-close cabinetry, a center island with a breakfast bar, stainless steel appliances, and a pantry. The primary suite offers a walk-in closet, abundant natural light, and an en-suite bath complete with a jetted soaking tub, walk-in shower, and large vanity. Two additional bedrooms, a hall bath, a powder room, and a laundry/mudroom with driveway access complete the interior. The property is ideal for equestrians, featuring a barn built in 2021. Inside, you'll find four 12x12 stalls with Dutch doors leading to a 12’ overhang. A spacious tack room and LED lighting enhance the barn’s functionality. Approximately 3 acres are fenced with RAMM fencing installed in 2021. A new double run-in shed was added in 2024, and a 10x12 cottage-style shed offers additional storage. Hunters and outdoor enthusiasts will appreciate over 30 wooded acres teeming with deer and turkey. With easy access to MD-381 and MD-5, this property combines the best of country living with convenient travel to points north and south.
Source: BRIGHT #MDCH2047178
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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.