1925 Pagebrook Rd Silver Spring, MD 20903
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About this home
Simply Irresistible! Turn Key, Craftsman Style Beauty with 5 Bedrooms, 4 Baths, situated on a deep, park like setting, 1/3 acre wooded beautifully landscaped lot! This spectacular home has 3 Finished Levels and was renovated in 2017. The upper level primary bedroom suite has a balcony deck, custom built ins with a wet bar and an ensuite spa bath with an oversized custom stone shower and a separate luxurious jetted soaking tub.. There are two additional bedrooms and a center hall bath on the upper level as well as a stackable washer/dryer. (Separately on the lower level there is a laundry area with a full size washer and dryer.) This exquisite custom home features two additional bedrooms and a full bath on the main level with a cozy fireplace and a gourmet eat in kitchen with stainless steel appliances and a extra large granite center island. The lower level is fully finished and also has a family room with a fireplace and a separate flex room and a full bath. There is a walk out stairwell from the lower level and an additional bonus workshop room. The exterior features large flagstone patios, front and rear, a oversized covered front porch with slate flooring and ceiling fans, In addition, there is a grand fireplace on the rear patio and a large oversized shed. Most recent upgrades include: New Samsung Bespoke Refrigerator, High Efficiency Smart Water Heater, New Gutters & Sump Pump System with Battery Back Up. Great location very easy commute to DC, Baltimore and major interstate routes, shopping, entertainment. 5 Minutes to the recently renovated Hillandale Local Park as well as the Hillandale Swim & Tennis Association. Please note, the sellers are open to considering a VA Loan assumption on their current loan which has a 2.25 % fixed interest rate, especially for veterans with current eligibility. Please contact the listing agent for additional information and details.
Source: BRIGHT #MDMC2204718
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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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