2623 Kentucky Ave, Baltimore, MD 21213
3 beds · 2 baths · 1,524 sqft
Wow! Buyers come and check out this wonderful town home near Herring Run Park today! This home features a large open living room/kitchen combo with LVT flooring, updated kitchen with new cabinets, granite countertops and stainless steel appliances. Kitchen has plenty of built in cabinets for storage and a built in desk space that is perfect for homework or a study space. Upper level features 3 bedrooms, all with ceiling fans, a primary bedroom with tray ceiling and a double closet. Updated hall bath with new cabinets and tile surround in the tub. Fully finished lower level with recessed lighting and an additional full bath that has also been updated with a tile surround in the shower. Updated lighting throughout. Lower level laundry and storage space. Lower level has a walk up stair to rear yard, which is fenced and has a small walk way/patio that is a great location for a grill or seating area. Roof was just re-coated and sealed this week. Central location only a block away from the park, close to schools, shopping and major roads. Easy commute to downtown. This home was renovated in 2019 and still shows well throughtout!
Source: BRIGHT #MDBA2158162
Financials
Source: BRIGHT #MDBA2158162
Source: Public records
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%. 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.
Other resourcesWhat 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.