521 Laurel Dr Lusby, MD 20657
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About this home
Welcome to this move-in ready and fully renovated split foyer situated on a corner lot that backs to trees, offering both privacy and convenience. The main level features vinyl plank flooring throughout the main living areas. The renovated kitchen includes newer stainless-steel appliances, updated cabinetry, and ample counter space. The spacious living room opens directly to a large deck, perfect for outdoor dining or relaxing. This level also includes three bedrooms with brand new carpet and two full bathrooms, including a primary suite with a private full bath. The lower level has been completely finished and features brand new carpet in the two additional bedrooms and den area, along with new vinyl plank flooring in the rec room. This level also offers a full bath and an oversized laundry and storage room with a private walk-out entrance providing flexible options for guests, a home office, or multi-generational living. Exterior highlights include a large deck off the living room, two driveways with ample parking, a storage shed, and a backyard that backs to trees for added privacy. Major system updates include a new roof (2024), new furnace (2021), new water pump and hot water tank (2021), and a newer water softener and filtration system (2023). Conveniently located near shopping, restaurants, and Patuxent River Naval Air Station, this home offers a functional layout, modern updates, and a desirable location — ready for its next owner to move in and enjoy.
Source: BRIGHT #MDCA2023898
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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.