404 Dunfield Ct Joppa, MD 21085
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About this home
Here's your chance to build equity at a good price! Welcome to this 4 bedroom, 3 full bath home with one car garage in the heart of Joppatowne. This home has a full bath with tub/shower combo and three bedrooms on the main floor. One of these bedrooms is the primary suite with its own private full bath with a walk in shower and walk in closet. Also, on this main floor there is a living room area, formal dining area and kitchen with all appliances and island. Sliders open out off of the dining area to access the rear deck which looks over the grassy cleared rear yard. Heading down to the basement leads to another large living area with a fireplace, a fullpath with walk in shower and a fourth bedroom. There is also access to the one car attached garage down here. This house is a blank slate for your creativity, and in good enough condition to live in while you update. It is priced to sell and is waiting on you!
Source: BRIGHT #MDHR2048700
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.