518 Shady Glen Dr, Capitol Heights, MD 20743
3 beds · 3 baths · 1,100 sqft
Get a free consultation call with an expert in the mortgage assumption process.
THE LIST PRICE REPRESENTS THE OPENING OFFER AMOUNT (NET TO SELLER). AGENTS - PLEASE VIEW AGENT REMARKS IN BRIGHT MLS. Rare Gem in Millwood – The Opportunity of a Lifetime! Unlock the full potential of this Diamond in the Rough nestled in the peaceful Millwood community—a home worth its weight in gold! Sitting on a spacious corner lot, this property is brimming with possibilities, ready for you to shape into your forever home. Main Level Highlights: An open-concept kitchen seamlessly flows into the dining area, perfect for entertaining. 3 bright and airy bedrooms bathed in natural light and 2 full bathrooms. A little TLC will elevate this home’s charm and value to new heights! Lower Level Retreat: A cozy, updated family room featuring a wood-burning fireplace for those chilly nights. A modern half-bathroom, dedicated laundry room, and ample storage space. Bonus area—transform it into a home office, gym, meditation room, or creative studio! Walk-out access to a spacious backyard with a brick gas grill and finished patio, perfect for entertaining, relaxing, or soaking up the sunshine. Recent Upgrades: New roof & gutter system (only 2 years old!), and New hot water heater (4 months old) for peace of mind. Unbeatable Location & Amenities: - Millwood Community Park (right across the street!) – Enjoy basketball & tennis courts, baseball & football fields, a walking track, picnic areas, a playground, and more! - Walker Mill Regional Park – Splash pad, skate park, sports courts & fields, trails, and plenty of green space! Commuter’s Dream: - Minutes from Washington, D.C., Addison Road & Morgan Blvd Metro Stations, and the V12 Bus Stop at your doorstep. - Quick access to I-95 Corridor & Northwestern Stadium (Home of the Commanders!). Shopping & Dining Galore: - Conveniently located near Ritchie Station, Hampton Park Plaza, and Addison Plaza for all your shopping and dining needs! Don’t miss this incredible opportunity to invest in a home with endless potential! Perfect for First-time Homebuyer! Please schedule all showings online via Showing Time. Offers will be accepted through Wednesday, May 7, 2025 at 1:00 pm. AT SELLER'S DISCRETION, AN OFFER MAY BE ACCEPTED AT ANY TIME.
Source: BRIGHT #MDPG2149192
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #MDPG2149192
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 and Equal Opportunity Act.