18559 Cape Jasmine Way Gaithersburg, MD 20879
Your savings
About this home
***Seller is offering a $5,000 buyer credit. Located in the heart of the desirable Flower Hill community, this 4-bedroom, 3.5-bath home offers the perfect blend of comfort, functionality, style and space. Inside, you’ll find a spacious living room that can double as a home office with double glass doors. You’ll enjoy cooking in the bright kitchen with a breakfast area complete with stainless steel appliances, granite countertops, and a beautiful view of the backyard. The family room impresses with its vaulted ceiling, gas fireplace, custom built-ins, and sliding glass doors that open to the expansive deck ideal for entertaining or relaxing. You’ll enjoy the well lit lower level with natural lighting, ground level walkout, 2 bonus rooms for a gym, theater, storage or potential 4th bedroom and a full bath. The exterior features a large backyard and an oversized deck off the family room. Major updates include: In 2019 the roof was replaced with 30-year architectural shingles with aluminum gutters and downspouts. Windows were replaced with vinyl double-hung tilt, as well as the sliding glass doors. In 2020 the HVAC was replaced along with the washer and dryer. In 2021 the driveway was repaved and automatic garage doors were added. In 2023 the front storm door was replaced and recently the hot water heater was replaced. Flower Hill offers fantastic amenities including a community pool, parks, and low HOA fees. Cape Jasmine is conveniently located near I-270, the ICC-200, 355-N. Frederick Ave., Shady Grove Road to name a few. You’ll also enjoy easy access to shopping, grocery stores, dining, and more.
Source: BRIGHT #MDMC2199978
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
If you find a better price on any home, we’ll match it.
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.