11321 College View Dr, Silver Spring, MD 20902
4 beds · 2 baths · 1,554 sqft
Large Spacious newly renovated split-level home in Wheaton Maryland. Located 2 blocks (walking distance) to the Wheaton Metro and the Westfield shopping Center. 4 levels. Top floor Bedroom. Main level living room, Kitchen / Dining Room and lower level finished basement. New Roof installed May 2022. New laminate flooring in all 3 bedrooms on top floor in hallways, living room and kitchen. Automatic lights in all closets. Impressive raised tile design in both the master bedroom and the main bathroom on top floor. Open floor plan in living room with fireplace. Ceiling fans in all bedrooms and living room. Beautiful kitchen with updated granite countertops and stainles steel refirgerator, dishwasher and stove/oven. Brand new Samsung stackable washer / dryer. Giant lower level basement with art deco doors. Wait there's more. The backyard is home to a giant updated deck surrounded by polynesian tiki bamboo with new propane barbecue and large shed for storing tools and lawn mowers and personal stuff. Additional platform deck with pergola hosts a brand new, inflatable hot tub from Wayfair. Amazing end of cul de sac property with This end of the street unit has 2 car asphalt driveway. Solar lights adorne the house for decor and safety. Three auto cascading fountains with lights are in the front of the house. A side garden of light ornaments line the side of the house as you walk along the dark grey painted sidewalk to the back of the house. Best location. 2 blocks from the Wheaton Metro and Westfield shopping center where Costco, Target, Macy, the Giant, Wells Fargo, Starbucks and more are walking distance to the house. Adjacent to the house is a park with a children's slide and a place to play. Albert Einstien High School is one block to the right. Each weekend it is open to the public to walk or bike in their school fields. Fireworks are held at the Einstein High School each July 4th for Montgomery County. Wheaton Regional Park and numerous shopping centers along Georgia avenue are conveniently located minutes from the house. Incredible restaurants are within a 5 minute drive. Located close to Rockville, Bethesda, downtown Silver Spring. This may be the best location for a house ever. Come see this house soon. It will go fast. It is being sold "as-is" . Large backyard and front yard. A great place for you!! Home warranty included for new owner.
Source: BRIGHT #MDMC2158380
Financials
Source: Public records
Source: BRIGHT #MDMC2158380
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
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