8908 Danville Ter Frederick, MD 21701
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About this home
Welcome to this magnificent home in the highly sought-after Spring Ridge community, offering over 6,000 square feet of sophisticated living space. With five total bedrooms and four and a half baths, this home provides ample space for comfortable living and entertaining. As you step inside, you are greeted by a grand foyer that sets the stage for the elegance found throughout. The main level features a formal dining room, an office, and a versatile living room/den. The open-concept family room is the heart of the home, centered around a cozy stone fireplace. The gourmet kitchen is a chef's dream, featuring a large island, stainless steel appliances, butler pantry and a dedicated eat-in area. A convenient powder room with water closet completes the main level. Upstairs, the expansive primary suite is a true retreat, boasting a separate sitting room, a luxurious ensuite bathroom, and a custom closet. This level also includes three additional bedrooms and a beautifully updated laundry room conveniently located just outside the primary suite. The second bedroom has its own ensuite bathroom, while the third and fourth bedrooms share a Jack and Jill bathroom. The finished lower level is designed for both recreation and comfort. It features a fantastic in-law suite with its own bedroom, full bathroom, and kitchen. This level also includes a dedicated bar room with fireplace, a spacious entertainment/living area, and plenty of storage. Step outside to discover your private oasis. The backyard is fully fenced and features a stunning two-tier Trex deck that overlooks a beautifully maintained garden. Below the deck, you'll find a covered patio, and another separate patio area with a pavilion—both equipped with electricity for all your outdoor needs. A charming patio in the front of the house on each side of the entrance and a two-car garage complete this exceptional property. This property is part of the desirable Spring Ridge community, which offers a wealth of amenities including a pool house, several pools, a splash zone, parks, tot lots, shopping, restaurants, childcare centers, walking trails, a school, doctor's offices, and more! Enjoy peace of mind with a 1-year home warranty and 1 year of HOA dues paid by the seller!!!
Source: BRIGHT #MDFR2069962
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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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