1645 Green Manor Dr Nanjemoy, MD 20662
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About this home
Fantastic 3 level 4 bedroom 2.5 bath colonial with large room on first floor that can be converted to 5th bedroom. House is located at the end of a cul-de-sac on a quiet street. No hoa with 2.5 acres is hard to find!! Main level has large family room, dining room, huge kitchen with breakfast bar, living room and 5th bedroom possibility or home office/library. Upper level has gigantic owners suite with walk in closet with plenty of space to have your king sized bed and bedroom furniture. the owners suite bathroom is private with tub and separate shower. The other 3 bedrooms are nice sized and share a large hall bathroom. The basement is full sized and ready for your finishing touches. The owners have a spectacular garden area ready for your green thumb. The lot is 2.5 acres and has a lot of possibilities.
Source: BRIGHT #MDCH2043762
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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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