7414 Parkwood St, Hyattsville, MD 20784
4 beds · 2 baths · 1,368 sqft
PRICE ADJUSTMENT! Easy living in this fully updated, well-laid-out home in the serene neighborhood of Bellemead. A top-to-bottom renovation in 2021 transformed the property into a modern haven, featuring a sleek, contemporary style with luxury vinyl plank flooring throughout, ensuring elegance and durability. A new 25-year warrantied roof (2023-$10k) and front fence and gate (2024-$10k) completed the transformation. Gorgeous kitchen with granite counters & island, all-stainless Frigidaire appliances, five-burner gas stove, tile backsplash, and a handy side door. The Samsung washer/dryer on the main level adds convenience to weekly chores. Four bedrooms and two updated baths on the upper level, including custom blinds and black-out shades in the primary bedroom, plus bedroom-level access to the patio. The brick and siding exterior offers curb appeal and long-term low maintenance, with easy driveway parking. The fully fenced yard on a generous 0.19 acres allows plenty of outdoor space for relaxing or entertaining - and your pets will love you for it! Close to retail, commuter corridors (Route 50, I-295 and I-495), plus just 2 miles to the New Carrollton Metro Station, and a half-mile to the under-construction Purple Line (estimated delivery 2026). This home is perfect for those seeking a blend of comfort and style in a desirable location. Seller works non-traditional hours, so some showing restrictions may apply.
Source: BRIGHT #MDPG2145486
Financials
Source: BRIGHT #MDPG2145486
Source: Public records
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%. 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.
Other resourcesWhat 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.