12506 Wallace Ln, Upper Marlboro, MD 20772
4 beds · 4 baths · 3,044 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Tranquil Retreat That Feels Like a Dream – Welcome to this beautiful, spacious home, nestled on 4 serene acres that offer a private, park-like setting. Each space in this home invites warmth and relaxation, from the elegant formal living room to the cozy family room with its charming brick surround fireplace. The large kitchen, equipped with granite countertops, opens into a bright breakfast room—the perfect spot for morning reflections as sunlight streams through the windows. Imagine enjoying a glass of wine with friends or sipping your morning coffee on the screened-in porch, surrounded by the tranquil sounds of nature and views of wildlife. The bedrooms are generously sized, providing personal havens of peace with large windows that frame the stunning views of the landscape outside. The full, walkout basement includes a full bathroom and offers flexible space that could serve as a guest suite or the recreation room of your dreams. Outside, immerse yourself in the beauty of the land, where flowers bloom year-round, mature trees provide shade and privacy, and manicured grass invites barefoot walks. Located with easy access to 301 and close to shopping centers, this home combines the tranquility of country living with the convenience of nearby amenities. Here, every day feels like a vacation and every moment is an opportunity to breathe a little deeper and smile a little brighter. Also potential to subdivide into additional lots!
Source: BRIGHT #MDPG2146480
Source: BRIGHT #MDPG2146480
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.
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.
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 and Equal Opportunity Act.