8580 Crain Hwy La Plata, MD 20646
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About this home
PRICE IMPROVEMENT!!!!ASSUMABLE 2.5% INTEREST RATE…..MOTIVATED SELLER!!!Welcome home! This beauty is nestled on almost 7 acres of privacy, located on the outskirts of La Plata, only minutes from the Charles county fairground, shopping ,schools and many restaurants. Enjoy living in a home that is maintenance free, to include a soaring front porch, over sized back patio, side load two car garage with work station, plenty of parking for your future family reunion, and a yard to die for, to include many blooms of fruit trees and grape vines. New HVAC as of 2018. Walk in to gleaming hardwood flooring and natural lighting through-out. Enjoy your eat-in country kitchen with stainless steel appliances and a formal dining room. The first floor hosts a home office or a secondary bedroom for your preference. The basement has plenty of flex area and hosts another bedroom or home gym. The upper level features an owner suite with two closets, one being custom build, bath and skylight. The hall bath has a skylight that compliments the other secondary bedrooms. There are so many thoughtful touches through out this home, it's a must see. A short trip to the Potomac River and local crab houses. Seller prefers CLA TITLE.
Source: BRIGHT #MDCH2046214
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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.