716 Wagner Farm Rd Millersville, MD 21108
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About this home
Beautiful 4 bedroom, 2.5 bath, 3 level Colonial located in the subdivision of Daniels Purchase. This home features main level hardwoods, eat-in kitchen with newer appliances and granite countertops opening to a spacious family room with slider to rear yard. Formal dining room with chair rail, living room, guest bath and mud room round out the main level. Upper level offers new carpet (2024), 4 bedrooms including primary bedroom with walk-in closet and primary bath (remodeled 2021) with dual vanities, separate soaking tub and walk-in shower. Three additional bedrooms and additional full bath plus laundry room and open loft space for desk (could be enclosed for closet) complete the upper level. Basement level provides large recreation room including built in brick bar plus additional office/den/potential bedroom with built in shelves for storage. Rear yard is fully fences and features a patio perfect for entertaining and raised flower beds along the back fence. Rain gutters with leaf protectors replaced in 2020. Two car attached garage (new insulated garage door 2022), new roof 2023 and solar panels with assumable lease.
Source: BRIGHT #MDAA2129956
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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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