2514 Avalon Pl Hyattsville, MD 20783
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About this home
Five levels detached house with four bedrooms, three and half bathrooms that is in moving condition offered strictly as is. There are two additional rooms in the basement. This charming split-level home in the desirable Parkside subdivision offers a perfect blend of comfort and functionality. Built in 1955, this well-maintained residence features 1,784 sq. ft. of finished living space, ideal for both relaxation and entertaining. The home boasts four spacious bedrooms and three full bathrooms, along with an additional half bath, two additional rooms in basement ensuring ample space for daily routines. The heart of the home is the inviting kitchen with table space, perfect for casual dining and gatherings. The fully finished basement adds versatility, providing extra living space that can be tailored to your needs-whether as a family room, or in laws. Enjoy the convenience of off-street parking with space for two vehicles, enhancing accessibility. The property sits on a manageable 0.13-acre lot, offering a low-maintenance outdoor space that allows for easy enjoyment of the surrounding neighborhood. With its classic brick and combination construction, this home exudes timeless appeal while providing modern comforts. The split-level design maximizes space and privacy, making it an excellent choice for those seeking a functional layout. This property is not just a house; it's a place to create lasting memories. Don't miss the opportunity to make this charming residence your new home. Solar panels are leased, and lease is transferable. Sellers need 30-60 rent back.
Source: BRIGHT #MDPG2181446
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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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