5320 Majesty Ln Saint Leonard, MD 20685
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About this home
Welcome to 5320 Majesty Lane – A Grand Opportunity in Kings Creek Estates! Motivated Seller just reduced the price and is offering $5,000 toward Buyer's closing costs with an acceptable offer. Don't miss this opportunity! Nestled in the sought-after community of Kings Creek Estates, this beautifully maintained and versatile home offers the perfect blend of elegance, space, and functionality. With 5 spacious bedrooms, 3 full bathrooms, and 1 half bath, this property provides ample room for comfortable living and entertaining. One of the standout features of this home is the fully finished walk-up basement—an ideal in-law suite or private guest quarters—complete with its own kitchen, bedroom, full bath, and living area, all accessible through a private exterior entrance. Whether you're seeking multi-generational living, rental potential, or extended guest space, the layout offers unmatched flexibility. The main level boasts an updated kitchen, and flows seamlessly onto a generous deck and beautiful backyard—perfect for relaxing evenings or outdoor gatherings. The oversized two-car garage provides not only ample parking, but also additional storage space. This home is in very good condition, with plenty of opportunity to add your personal touch and elevate it to the next level. It’s truly a must-see property for discerning buyers looking for comfort, quality, privacy, and potential—all in one place. (Seller requests settlement with REALTY TITLE SERVICES, previously used in the original purchase.) The motivated Seller kindly requests at least one hour’s notice for showings. Don’t miss your chance to make Majesty Lane your next address!
Source: BRIGHT #MDCA2021752
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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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