2708 Lake Forest Dr, Upper Marlboro, MD 20774
4 beds · 3 baths · 2,898 sqft
PRICED TO SELL!!! Welcome home to this meticulously maintained three-story colonial nestled in the highly sought-after neighborhood of Beechtree. This beautiful property boasts timeless elegance and modern amenities, offering a perfect blend of comfort and style. This property is located in a highly desired community within Prince George's County. This home has three stories of well-designed living space, providing ample room for both relaxation and entertainment. The open floor plan seamlessly connects the kitchen, morning room, and family room areas, creating a warm and inviting atmosphere. The upper level boasts a spacious owner suite with ensuite that showcases a separate shower and tub. There are three additional bedrooms that are a great size. Off the morning room is a beautiful deck made for outdoor entertaining. The fully finished basement adds versatility to the home, offering a fantastic space for a home theater, game room, or guest suite. There is also plenty of storage in this basement! This home offers a solar system that reduces the monthly utility bill and is fully transferrable. This home offers options and flexibility, while allowing for comfortability for all to enjoy! This house is not just a home; it's a lifestyle. Beechtree Park is in walking distance for everyone to stay active. Embrace the charm of Beechtree and the comfort of this beautifully maintained colonial.
Source: BRIGHT #MDPG2144142
Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Have questions? Email support@withroam.com
Source: Public records
Source: BRIGHT #MDPG2144142
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.