5816 Drexal Ave Ijamsville, MD 21754
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About this home
Welcome to this spectacular home in the desirable Greenview community of New Market! This classic residence offers an unparalleled combination of space, style, and modern features across three finished levels. The main level is designed for both grand entertaining and comfortable daily living, featuring beautiful hardwood floors and elegant tray ceilings. The heart of the home is the dramatic two-story family room, complete with a stunning stacked stone fireplace. Prepare meals in the large, gourmet kitchen, which boasts an abundance of cabinetry, granite countertops, a kitchen island, and stainless steel appliances. This level also includes a formal dining room, a versatile den perfect for a home office, and a convenient half bath. The upper level features four spacious bedrooms, including an expansive primary suite that serves as a private retreat. The suite is complete with a separate sitting room and a luxury bath package. The entertainment possibilities continue in the fully finished, walkout lower level. This impressive space is complete with a wet bar, a theater area, a fifth bedroom, and a full bathroom, making it ideal for guests or an in-law suite. From here, a sliding glass door leads out to a beautiful stone patio. The Greenview community provides a wonderful lifestyle with convenient access to the shopping, dining, and parks of New Market and Frederick, as well as major commuter routes. Don't miss your chance to own this exceptional home that combines luxury and a great location! Note that there is construction of a new FCPS Elementary School across from the community.
Source: BRIGHT #MDFR2069638
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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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