8409 Carlynn Dr, Bethesda, MD 20817
7 beds · 4 baths · 5,113 sqft
New Price Improvement. Great buy with over 5,100 sq ft in the Whitman district. Updated sun-filled contemporary home in tranquil, tree-lined Persimmon Tree. This 6-bedroom 4-bath house has been fully updated and offers an open floor plan that’s perfect for entertaining. The home has ample spaces for indoor and outdoor enjoyment, including a dining room and living room with floor-to-ceiling windows, and a large deck that overlooks the serene wooded lot. A beautifully updated kitchen features a cozy banquette and side deck for enjoying a morning coffee. With stainless steel appliances, quartz countertops and plenty of storage, it’s the ideal gourmet chef's kitchen. The large family room, complete with a fireplace and modern built in bar, leads to a sunroom with backyard access and a basketball court. The primary bedroom has a wall of windows, private deck and large updated walk-in closet, as well as a recently-renovated primary bathroom. There are 3 additional bedrooms with generous closets upstairs, plus an updated modern hall bath, and office space with built ins. On the main floor, there is a sunny bedroom and gorgeous new full bath. The updated lower-level basement holds 2 additional bedrooms, an updated full bath, plenty of space for a home gym or rec room, and a 2-car garage. This home is move-in ready with hardwood floors and freshly-painted exterior. Walk to the C&O canal & Cabin John restaurants. Just minutes to downtown Bethesda, and an easy commute to MD, DC and VA.
Source: BRIGHT #MDMC2165654
Financials
Source: Public records
Source: BRIGHT #MDMC2165654
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.