6300 Longfellow St Riverdale, MD 20737
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About this home
Beautifully move-in ready and attractively priced. Semi detached large Town Home with Hardwood floors. Ideally located on a tranquil neighborhood of Templeton Knolls. Nice backyard. Plenty of light, lots of storage. The main level is designed for gracious living, featuring a grand foyer. The kitchen features granite counters and stainless steel appliances that opens to an over sized family room with a fireplace and half-bathroom. Second level features a spacious primary bedroom + 2 guest rooms and a full bath. Also, you have a bonus room in the third level of the house perfect for another bedroom or office with plenty of closets. Beautifully finished basement provides flexible space with a large recreation area, a private guest suite, and a full bath with laundry. The large backyard fully fenced with a driveway to park for 2 + cars. This home is conveniently located close to I- 495, Baltimore Washington Parkway, East West Highway, Shopping, restaurants, and parks. Close to BW Highway – I495; East West Highway. Bus and Metro near bye. Will be walking distance to the new purple line station. 30 minutes to Washington, DC. Sellers prefer Aspen Title Group for settlement.) Sellers are affiliated with Aspen.
Source: BRIGHT #MDPG2180572
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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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