3900 Corbin Pl Bowie, MD 20715
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About this home
Spacious colonial is set on a private cul-de-sac and offers loads of indoor and outdoor living and entertaining space! The main level features wood floors throughout and an eat-in kitchen with tile floor that opens to a warm and welcoming living space with brick fireplace featuring hearth and mantel. Sliding doors open to a huge patio area and yard on one side and to a breezy portico with pergola on the other. Plenty of light and comfortable flow! The formal dining room off of the kitchen is perfect for quiet dinners, while the large and bright living room offers a second fireplace and tons of light...great for media viewing or entertaining. This main level also includes a powder room, and flows to the laundry room, a dedicated office space, and a huge garage. The steps to the second floor feature a custom wrought-iron railing and wood floors. The entire second floor features wood floors throughout and a large and bright primary bedroom with walk-in closet and en-suite tile bath. The two additional bedrooms have large closets and easy access to the hall bath. The large lot features a fish pond, storage sheds, vinyl fencing and privacy. Landscaping includes pear tree, fig tree, and grape vines! Set at the top of a private cul-de-sac, this home is a real gem in the sought-after Chapel Forge at Belair community with quick access to shopping, dining, and commuter routes to DC, Annapolis and Baltimore. HVAC (new in 2024) Roof (new in 2016)...new fence, indoor/outdoor audio system, ethernet in every room, two sheds with electricity, basketball hoop!
Source: BRIGHT #MDPG2178164
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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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