142 Farmington Rd W, Accokeek, MD 20607
4 beds · 4 baths · 3,836 sqft
Get a free consultation call with an expert in the mortgage assumption process.
An assumable 2.375% VA loan is available, subject to eligibility requirements, with an option for a second mortgage to cover the remaining balance. This home was completely renovated 2021 featuring 10-foot ceilings, brand-new interior, stainless steel appliances and more. This bright and spacious 5-bedroom, 3.5-bathroom residence is situated on a convenient corner lot. It offers hardwood flooring throughout the downstairs, staircase, and upstairs hallway. The open kitchen includes 42-inch wall cabinets, stainless steel appliances, granite countertops, glass backsplash, and large island, perfect for entertaining. There are two primary suites, one on the main floor, both with private bathrooms walk-in closets. Additionally, two more bedrooms are located upstairs, sharing a hallway bathroom. Laundry rooms are available on both levels. A large bonus room above the garage provides space for storage, crafts, or a gym. An additional room upstairs can serve as an office or a fifth bedroom. Multipurpose room off kitchen could be used as a home school classroom, dining, craft room, home office or whatever is needed. The oversized 24X24 garage includes a work bench and a 220/240 outlet. The property also includes an 8x12 storage shed and a backyard patio area designed as a private oasis. Tons of flexible use space in this home! Must see to believe. Home warranty included and will transfer to buyer. The property benefits from proximity to the Calvert Manor Civic Association, offering access to a park, playground, tennis court, and a kayak ramp to the Potomac River. It is located just 2 miles from Piscataway Park/Nature Preserve, 4 miles from National Colonial Farm, and 15 miles from Washington, DC.
Source: BRIGHT #MDPG2143548
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #MDPG2143548
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.
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.