18 Glen Oak Ln NW, Glen Burnie, MD 21061
4 beds · 4 baths · 1,946 sqft
Prior to any showing being approved, must submit verifiable mortgage loan pre-approval letter or POF for all cash. Almost 2000 sq ft! Fully renovated in 2017. This charming, updated Cape Cod home offers a spacious and versatile layout across 2.5 stories, situated on a generous quarter-acre, fenced lot. The main level features two bedrooms and two and a half baths, with a thoughtfully designed floor plan that includes a large kitchen equipped with an island, stainless steel appliances, and granite countertops, ideal for both cooking and entertaining. The beautiful wood floors add warmth and character throughout. The upper level provides two additional bedrooms and a full bath, perfect for accommodating family or guests. Enjoy the large, enclosed front porch, which is heated and air-conditioned, offering a cozy additional living space year-round. The property also boasts a full unfinished basement, presenting ample opportunity for customization or storage. Outside, an oversized driveway accommodates up to four cars, making it convenient for multiple vehicles or visitors. This home blends comfort and functionality, making it a perfect choice for a variety of lifestyles.
Source: BRIGHT #MDAA2093390
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #MDAA2093390
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 of Equal Opportunity Act.