13201 Rhame Dr, Fort Washington, MD 20744
5 beds · 3 baths · 2,420 sqft
Welcome home to Tantallon Hills! This three-level home offers modern updates and a basement studio apartment that would be perfect for multi-generational living. To your right you will find the formal living room, with large windows filling the space with abundant natural light. Rich wood flooring leads you into the large dining room, featuring elegant chair rail and crown molding. Continue into the home and you’ll discover the spacious kitchen, which boasts an abundance of cabinet space and a central island. The adjacent family room is cozy, with floor-to-ceiling windows and built-in shelving flanking the lovely brick fireplace on either side. Upstairs, the expansive primary bedroom suite boasts plush carpeted flooring, two closets, and an updated bathroom with double sink vanity and step-in shower. Three additional bedrooms are sizable with wide closets and shared access to the second updated full bathroom in the hall. The lower level of the home offers a versatile opportunity for a rental property or multi-generational living! Here you’ll find a wide open recreation room and bright, modern kitchen. The bonus room includes a large walk-in closet and private attached bathroom. In addition to a second kitchen space, an additional washing machine and dryer can also be found on this level. From here, walk-out into your tree-lined backyard to relax or entertain. With sliding doors off of the family room, this home provides you with an opportunity to personalize a deck to your needs. On the front of the home, your 2-car garage and wide driveway give you plenty of room for both parking and storage. Located minutes from Giant, Safeway, Target, National Harbor, Tanger Outlets, Piscataway Park, Joint Base Andrews, and Joint Base Anacostia-Bolling, this home also offers quick access to Indian Head Highway, I-495, Branch Avenue, Suitland Parkway, and Crain Highway. Schedule a private tour of your new home today!
Source: BRIGHT #MDPG2147164
Financials
Source: Public records
Source: BRIGHT #MDPG2147164
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.