6314 Martin Luther King Jr Hwy Capitol Heights, MD 20743
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About this home
DRASTIC PRICE REDUCTION, A LITTLE TLC YOU CAN HAVE 60K OR MORE EQUITY, INVESTORS DELIGHT RENTAL 2500.00 TO 2800.00. OR SAVY BUYER MOVE IN TOP TWO LEVELS AND RENT OUT THE BASEMENT 1250.00 TO 1350.00. DRASTIC PRICE REDUCTION, NO LOW BALL CONTRACTS. A Charming end-unit townhouse in Capitol Heights, just minutes from the DC line and 2 miles from Addison Rd & Cheverly Metro. From the front patio, walk into spacious living room which boast stunning hardwood floors that flow seamlessly from room to room. The spacious living area are perfect for both entertaining and relaxing offering a welcome atmosphere. from the living room walk into the separate formal dining room, which features large windows and and original hardwood floors. Perfect for family gathering and Yummy Holiday meals. The kitchen is beautifully updated with granite counter tops and stainless steel appliances and also space for moderate sized table. from the kitchen step into the Charming Sunroom with lots of windows that overlook the spacious fenced in backyard, perfect for grilling, relaxing or maybe a vegetable garden. This home eligible for 10K grant upstairs you will find three sun-filled bedrooms with ample closet space, including a generously sized primary bedroom, along with a full bathroom with full tub for soaking or just take a quick shower. The lower level feature a large spacious rec room with a private entrance, can be used as a man cave to watch all the NFL games or just relax and watch movies with the family, while enjoying the warmth from the gas fireplace, with private entrance making it ideal for in-law suite, guest retreat or rental options also walk into the large bathroom with a stand up shower. A separate laundry room , complete with full size washer and dryer on the lower level. In addition to the spacious backyard also features a patio in the front of the house with a mature tree and chairs to relax and enjoy nature. Oh I forgot to mention we have a concrete driveway that could park 2 cars and the concrete sidewalk that leads to the back yard. Home is in good condition. Seller is selling home AS-IS and will make no repairs. so do your pre inspection before submitting a contract. MOTIVATED SELLER NO HOA Seller offering This home may be eligible for 10K grant
Source: BRIGHT #MDPG2166426
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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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