3028 Mayfield Ave, Baltimore, MD 21213
3 beds · 2 baths · 1,806 sqft
Charming Well-Maintained Home! Welcome to this stunning home in exceptional condition, featuring an open floor plan that seamlessly blends modern convenience with timeless charm. The beautifully designed kitchen boasts granite countertops with all stainless-steel appliances and a gas stove. The kitchen flows effortlessly into the living and dining areas, perfect for entertaining. A spacious mudroom off the kitchen provides extra storage and organization with a front-loading washer and dryer. More space downstairs with the Family Room and Separate Game Room in the Full-finished basement. I would be remiss if I failed to mention the rear-entry garage for a secure space to protect your vehicle from the elements. Well-connected location to major roads nearby includes Harford Rd, Belair Rd, Perring Pkwy and Pulaski Highway just to name a few. Minutes to public transportation and a quick 10–15-minute commute to Baltimore Penn Station and BWI Airport is just 25-30 minutes away as well. Located less than 5 miles from Baltimore’s iconic Inner Harbor, this home offers unbeatable access to the city’s best attractions with literally over 200+ restaurants nearby. Not to mention countless museums, that National Aquarium and Baltimore Zoo. Outdoor lovers will appreciate the close proximity to Clifton Park Golf Course, Patterson Park and Lake Montebello just to name a few more of the local areas for recreation and relaxation. Plus, this home is near top employers like Johns Hopkins University, the University of Maryland Medical System, and the Social Security Administration, making it perfect for professionals. Don't miss the opportunity to own this exceptional home in a seamlessly well-connected location—Seller is also offering a painting and carpeting allowance for the new owner to make changes to their personal preferences. schedule your showing today!
Source: BRIGHT #MDBA2161736
Financials
Source: Public records
Source: BRIGHT #MDBA2161736
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.