3931 Madison St, Hyattsville, MD 20781
3 beds · 2 baths · 884 sqft
Get a free consultation call with an expert in the mortgage assumption process.
SUPER SWEET - Beautifully situated atop a landscaped hillside, on a favored tree-lined street in hip, happening, historic Hyattsville Hills! Beautiful views overlooking Madison Street, Classic picket fence. Welcoming, covered entry porch. Beautiful oak wood floors grace the living room, hall and all the bedrooms. The livingroom is open to the kitchen with a lovely granite-covered breakfast bar with pendant lighting above. The open kitchen has gas cooking and stainless steel appliances and the sink overlooks the fenced back yard with its patio and firepit. Two corner bedrooms each have 2 exposures. The smallest bedroom faces the front yard and has a spacious closet with a built-in organizer system. The recently renovated main bath has river stone flooring, a glass door and a spacious shower with seat. Don't miss the additional half bath and the smart toilets - just give a wave, no need to touch! The laundry room shares space with the utilities and has a laundry sink and an exit door to the lovely back yard. The property is fully fenced and has stepping stones along one side. There is a well maintained crawl space with sump pump accessible via the left side. ASK AGENT ABOUT POTENTIAL TO ASSUME A GREAT RATE! Fabulous Location - Just under a mile to Arts District HVL with Busboys & Poets, Yes Organic Market, Franklin's Restaurant & Brewpub and more! One mile to HVL Crossing and/or West Hyattsville Metro too! Don't miss Driskell Park with its Tot Lot, Tennis/Pickleball/Basketball courts, plus Soccer fields and a Pool. Local bike paths include the NW and NE branches and the Trolley Trail along Route 1. Hyattsville is a vibrant and engaged community you will love living here!
Source: BRIGHT #MDPG2145226
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #MDPG2145226
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.