3953 Elite St, Bowie, MD 20716
3 beds · 4 baths · 1,472 sqft
Welcome Home! Stylish, Spacious, and Move-In Ready Townhome with Premium Outdoor Living This beautifully updated and freshly painted townhome is full of charm, comfort, and upgrades—all nestled beside a peaceful open field and a large side yard, giving you extra privacy and room to breathe. Step into your backyard retreat, complete with professionally installed SYNLawn turf, a fence for added privacy, a paved patio, and a hot tub that can stay if you’d like. Whether you’re hosting friends or enjoying a quiet evening, this space is perfect for year-round relaxation and low-maintenance enjoyment. The garage is a standout feature—while it’s a one-car garage, it’s been thoughtfully enhanced with leftover turf flooring, making it a multi-use space for parking or recreation, especially during summer months. It fits an SUV comfortably, even with a Whirlpool refrigerator included. And with plenty of parking right in front of the home, you’ll never stress about guest parking. The lower level offers a flexible layout with a sitting room or den, plus a tucked-away office or potential fourth bedroom with a half bath and cozy wood-burning fireplace—perfect for working from home, hosting guests, or creating a personal retreat. Major updates include: • Hot water heater replaced in 2023 • All appliances purchased in 2020 • Washer and dryer updated in 2022 • Deck built in 2021 • Solar panels installed December 2024 for energy efficiency and future savings On the second and third floors, you’ll find original hardwood floors beneath the carpet and laminate, just waiting to be revealed. The generously sized primary bedroom features an upgraded en-suite bathroom, and two additional bedrooms provide plenty of space for family, guests, or hobbies. This home has been lovingly cared for and thoughtfully upgraded—it’s ready for its next chapter. Don’t miss your opportunity to own a home that truly has it all! Enjoy Local Restaurants, Close to Washington DC, Baltimore and Annapolis.
Source: BRIGHT #MDPG2146628
Financials
Source: Public records
Source: BRIGHT #MDPG2146628
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.