12403 Welford Manor Dr, Upper Marlboro, MD 20772
5 beds · 5 baths · 6,234 sqft
The owners are relocating and they’d never part with their dream home if they didn’t have to. Built just three years ago with nearly every available option from the builder, this home features a RARE three-car garage and a RARE fourth floor! With four levels of beautifully finished space, this home is impressively large and no expense has been spared. The loft is even pre-piped with full water hookups, ready for a future bathroom for the guest suite or a wet bar—perfect for entertaining during football games and parties! Even after the home was built, the owners built-up the backyard with stunning hardscaping and an elevated screened-in terrace for enjoying dinner on warm summer evenings, mosquito-free!!! The gourmet kitchen features a massive island, double ovens, plenty of cabinetry, a walk-in pantry, even a convenient tucked away pocket office for mail or a quick email break. There is nothing you will want in a kitchen that this home does not offer. The master suite is setup on the back of the house, so no road noise, and with protected conservation woods behind the property line this offers a rare opportunity for true privacy without having to fuss with shades and curtains and allowing you to take in the full sunrise and sunsets from the bedrooms south facing windows. Just outside the master bedroom, a princess suite offers a secondary private bathroom, and even a third bathroom in the hall for the children. The basement is huge, has a full bathroom, and has easy potential for an additional bedroom too, still with plenty of storage room! This home has everything. Nothing overlooked. Other properties of this size and grandeur often come with costly HOA fees that fund extravagant amenities—like oversized swimming pools and aging facilities—that many homeowners rarely use. Here, the community takes a more thoughtful approach, offering well-maintained common areas, a rentable rec center for gatherings when you need it, even an outdoor park and a basketball court—without the burden of paying for amenities you won’t use. Located literally less than 20 minutes from D.C. and 7 minutes to Andrews AFB, this home is new, large, private, rare, and perfectly situated. Perfect in every way.
Source: BRIGHT #MDPG2139886
Source: BRIGHT #MDPG2139886
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 620, 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.