116 Waterland Way, Frederick, MD 21702
4 beds · 4 baths · 2,012 sqft
THE SELLERS ARE OFFERING A $5,000 CREDIT TOWARDS REPAIRS/UPDATES. Welcome To Your New Home located in the Taskers Chance community. This townhouse features 3-levels of living area that features 4BR, 3.5BA and Single Car Garage with additional parking in driveway and other residential parking throughout the immediate area. Three of those bedrooms are located on the 3rd floor that includes a master suite with its own dedicated bathroom and walk-in closet. As for the other two upper level bedrooms, they both offer good size to accommodate for bedroom sets along with a spacious closet. 2nd floor features the kitchen that boasts plenty of cabinetry for all your storage needs, granite countertops with a breakfast bar. The open concept family living room is situated right off the kitchen along with the dining area. This floor offers a half bath. You can also enjoy some outdoor living with the large deck located right off the family room. 1st floor features entryway foyer that leads the 4th bedroom with its own full bathroom. The enclosed laundry area is also located on this floor along with the entrance to the single car garage. The location of this townhome puts you in close proximity of everything from dining, shopping, grocery stores, convenience stores, hardware stores and even your very own luxury movie theater with a bar! This townhome is situated close to all of your major commuting routes such as RT40, US-15, RT340, I-70, and I-270. Baker park and a vibrant historic downtown district, is all within a few minutes drive. Scheduled your showing today!
Source: BRIGHT #MDFR2059682
Financials
Source: BRIGHT #MDFR2059682
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.