8314 Pigeon Fork Ln Laurel, MD 20724
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About this home
Nestled in the charming Russett community, this stunning Colonial-style home offers a perfect blend of comfort and modern living. With 2,764 square feet of thoughtfully designed space, this residence has undergone major renovations in 2023, ensuring it meets the highest standards of contemporary living. Step inside to discover a warm and inviting interior featuring a spacious open floor plan that seamlessly connects the living, dining, and kitchen areas. The heart of the home boasts upgraded countertops, a kitchen island, and ample table space, making it ideal for both casual meals and entertaining. Enjoy cozy evenings in the living room, enhanced by recessed lighting and a ceiling fan, or unwind in the luxurious primary bath, complete with a soaking tub and walk-in closet. The home features three generously sized bedrooms and three full bathrooms, providing plenty of space for relaxation and privacy. The fully finished basement, with its daylight windows and walkout access, offers additional living space that can be tailored to your needs-be it a home office, gym, or play area. Outside, the property is equally impressive. The extensive hardscape and beautifully landscaped front yard create a welcoming curb appeal, while the backyard backs to serene trees, providing a peaceful retreat. Enjoy summer days on the deck or take advantage of the community amenities, including a refreshing outdoor pool, tennis courts, and walking paths that encourage an active lifestyle. The Russett community is known for its friendly atmosphere and convenient access to local parks, schools, and public services. The community clubhouse serves as a hub for social gatherings, fostering connections among neighbors. With an attached garage and a concrete driveway, parking is a breeze. Security features, including a main entrance lock and smoke detectors, provide peace of mind. This home is not just a place to live; it's a lifestyle. Experience the perfect blend of comfort, community, and convenience in this exceptional property. Don't miss the opportunity to make it your own!
Source: BRIGHT #MDAA2126804
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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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