8910 Palmer St Fort Washington, MD 20744
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About this home
Nestled in the charming Lynnalan Acres, this split foyer home offers a perfect blend of comfort and investment potential. Built in 1976, this brick residence boasts 2,424 finished square feet, providing ample space for both relaxation and entertaining. Step inside to discover a warm and inviting atmosphere, highlighted by a thoughtfully designed layout. The main level features an eat-in kitchen with table space, ideal for casual dining or morning coffee. Equipped with essential appliances including a refrigerator, stove, dishwasher, and disposal. The property has a combination of carpet and hardwood flooring throughout. With four spacious bedrooms and three full bathrooms, this property is designed to accommodate a variety of lifestyles. The fully finished basement, complete with an outside entrance and walkout level, offers additional living space that can be transformed into a family room, home office, or more, maximizing your investment potential. The outdoor space is equally appealing, providing a blank canvas for landscaping or outdoor entertaining. The driveway and off-street parking ensure convenience for residents and guests alike. Investors will appreciate the potential for rental returns in this desirable neighborhood. The combination of a functional layout, ample bedrooms, and a fully finished basement makes this home attractive to a wide range of tenants. Additionally, the absence of a pool reduces maintenance costs, while the brick construction promises durability. This property is not just a house; it's a place where memories are made and futures are built. With its inviting features and investment-oriented layout, this home is a fantastic opportunity for those looking to expand their real estate portfolio or find a comfortable residence. Don't miss your chance to own a piece of Lynnalan Acres that offers both charm and financial potential.
Source: BRIGHT #MDPG2181094
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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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