508 Bond Ave, Reisterstown, MD 21136
5 beds · 4 baths · 3,042 sqft
Seller agrees to offer a $7500 closing cost or rate buydown incentive, payable upon settlement, for a written full price offer submitted by a buyer and accepted in writing by the seller provided it occurs by 4/15/25!!! Nestled in the sought-after community of Sagamore Village, just steps from Historic Glyndon, this meticulously maintained five-six bedroom Colonial home with an attached garage offers the perfect blend of elegance, comfort, and convenience. Ideally located, the property is just minutes from Westminster, Hunt Valley, Towson, and downtown Baltimore, providing a tranquil neighborhood setting with easy access to nearby amenities. The home’s open floor plan is thoughtfully designed for both casual living and elegant entertaining, with every detail contributing to a warm and sophisticated atmosphere. Stylish features include gleaming wood floors, an updated kitchen with abundant cabinetry, designer lighting, six-panel doors, and custom touches throughout. Upon entering, a two-story foyer welcomes you into a bright and inviting space. The main level boasts a spacious eat-in kitchen, perfect for culinary enthusiasts, and a formal dining room ideal for hosting gatherings. The expansive living room features an electric fireplace framed by a designer mantle and custom built-ins, while the sunlit family room offers a cozy retreat. A versatile sunroom, thoughtfully converted into a fifth bedroom or private office with its own entrance, adds flexibility to the floor plan. This level also includes a convenient half bath and access to a large rear deck overlooking the fenced backyard, ideal for outdoor living and entertaining. Upstairs, the tranquil owner’s suite serves as a private sanctuary, complete with a separate sitting room and an oversized “California-style” closet. The luxurious en-suite bathroom is a standout, featuring a custom wood vanity with granite countertops, a makeup station, a two-person walk-in shower, and a water closet with stacked front-loading washer and dryer. Three additional generously sized bedrooms complete the upper level, offering comfort and versatility for family or guests. The fully finished lower level provides additional living space with endless possibilities. A large great room showcases upgraded custom cabinetry, while a kitchenette enhances the functionality of the space. A full bathroom and the potential for an additional bedroom make this level ideal for extended family, guests, or recreational use. Walkout access to the rear yard further enhances the home’s indoor-outdoor flow. This exceptional residence combines timeless style with modern convenience, all within a vibrant and welcoming community. Don’t miss the opportunity to make this exquisite home your own. Owner prefers use of GPN Title Group for setlement as they have already completed the title search. Fireplace & alarm as-is as the owner does not use them. Owner prefers 30-60 days rent back.
Source: BRIGHT #MDBC2120410
Financials
Source: Public records
Source: BRIGHT #MDBC2120410
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.