7022 Storch Ln Lanham, MD 20706
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About this home
Back on the market with a fresh NEW LOOK & FEEL! Be in your new home for the holidays, as there is nothing to do but move in & decorate! The entire home has been freshly painted! This is the home you've been waiting for, which has everything you want and need! A MUST SEE 3 bedroom, 3.5 bathroom "end-unit" townhome with a 1 car garage! This beauty has gleaming hardwoods in the living room, dining room, kitchen & primary bedroom. Other features include crown molding in the living & dining rooms, renovated bathrooms, stainless steel appliances & granite countertops. The spacious 2nd & 3rd bedrooms have new "plush" carpeting installed and, they both have generous sized closets! In addition to the lovely hardwood flooring, the "extra large" primary bedroom has a ceiling fan, a full wall of closets & a skylight! The fully finished basement has a spacious recreation room with a cozy "stone" fireplace, full bathroom & sliders leading to the patio! This home is definitely made for entertaining with its spacious, re-finished deck, concrete patio & fully fenced "private" backyard. Extra windows on the side, including a large bay window in the dining room, let in lots of natural sunlight! Home is being sold "as is" but is in great condition. To see this home is to fall in love with it! Make your appointment to see this one today, as this one will not last! Some closing help available, which includes a credit for a new dishwasher. VA/Military buyers, ask about assuming the VA mortgage on this home at the great low rate of 2.875%.
Source: BRIGHT #MDPG2158994
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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.