7420 Mayflower Ct Saint Leonard, MD 20685
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About this home
This is a MUST see home. Soon as you step into this beautiful colonial you will see amazing touches, from the custom wall in living room, hardwood floors to the two-story great room, to the large kitchen. But there is a lot you won’t see that makes this house a smart home that can be ran from Siri or Alexa, including the thermostat, exterior lights, interior lights, heated pool, pool house with AC, large patio with fire pit and 3 hammocks. The large kitchen has granite countertops, tons of storage space, including two pantries, breakfast bar and dining space. The great room is just that, great with tons of light. But don’t worry if you want to watch a movie just close the automated drapes and get ready. The first-floor office is the perfect place to work from home and with the 8 Ethernet drops in the room, you will have no issues with those web meetings. There is also a formal living and dining room on this floor with a full bathroom. Retire upstairs to your light filled primary bedroom. It’ an oasis with private balcony overlooking the pool and backyard. It also has a fireplace and large spa like bathroom. The three other bedrooms on the 2nd floor all have new hardwood floors, closet organizers and smart lights/ceiling fans. The bedroom next to the primary bedroom is being used as a custom closet. The upgrades continue in the basement with ceiling speakers, automated lights, kitchenette, tons of light and full bathroom. There are two more bedrooms on this level. They don’t feel like basement bedrooms with the full-sized windows. The exterior of this home is simply stunning with all of the landscaping and mature trees. If you have pets there is a newly installed electric fence. Sit by your large gunite pool which can be controlled by Alexa or Siri and listen to music on the 8 speaker system. The large backyard backs up to trees giving you the privacy you want but you still have tons of space to play. Newly installed HVAC system. You don’t want to miss this amazing home.
Source: BRIGHT #MDCA2020740
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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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