19565 Transhire Rd, Montgomery Village, MD 20886
4 beds · 4 baths · 1,187 sqft
Charming Home in an Excellent Location Discover this fantastic property with 4 spacious bedrooms and 2 full bathrooms, ready to become your new home! This house features a functional kitchen, perfect for cooking enthusiasts, and a bright and spacious living-dining area, ideal for family gatherings or entertaining friends. The primary bedroom offers privacy and comfort, while the additional bedrooms provide extra space for a growing family or a home office. The bathrooms have been carefully maintained and include practical and stylish details. The kitchen, with its wooden cabinets and ample countertops, connects to a breakfast area that opens to a green outdoor view, creating a cozy atmosphere to start your day. Additionally, the flooring in the living area combines style and functionality, making it the heart of the home. The exterior of the home offers a lovely backyard, perfect for enjoying the outdoors, whether for your children, pets, or simply to relax at the end of the day. The property also includes unique details, such as a layout that optimizes every corner to ensure your comfort. Located in a peaceful and well-connected community, this home is close to parks, schools, and shopping centers, making it an opportunity you won’t want to miss! Don’t wait any longer! Come visit this gem today and start imagining your future in this wonderful home.
Source: BRIGHT #MDMC2165266
Financials
Source: Public records
Source: BRIGHT #MDMC2165266
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.