8705 Graystone Ln, Laurel, MD 20708
4 beds · 3 baths · 2,712 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to 8705 Graystone Lane, a well-maintained 4-bedroom, 2.5-bathroom home situated on a private 0.38-acre lot in the desirable Montpelier neighborhood. Lovingly cared for by the same owners for over 20 years, this home offers spacious living areas, unique features, and an extended family room with a stunning brick fireplace. Looking to bring your own ideas to this spacious, well-maintained home? This is your chance to add your personal touch and make it your own! The main level features a spacious living room with abundant natural light and a wood-burning fireplace, formal dining room ideal for gatherings, a large family room addition with a charming brick fireplace, and a sunroom leading to the back deck, perfect for relaxation. There is also a main level bedroom, great for guests or an office space, an updated half bath, a laundry/utility room with washer, dryer, and 2019 gas water heater. The kitchen features the original wood cabinetry, laminate countertops, and a tile floor. The second level features a spacious primary bedroom with a sitting area/nursery space and a remodeled en-suite bathroom. There are 3 additional bedrooms with closets, blinds, and carpeting along with an updated hallway bathroom and linen closet. You will appreciate the oversized 2 car garage with remote openers that has a recently power-washed floor and an updated electrical panel. The fully fenced backyard that backs to the woods, also features a fenced-in vegetable garden and a storage shed. Other notable features include new siding in 2024, a 10 year old roof, 5 year old gas furnace & electric AC, and windows have been replaced for energy efficiency. PLUS, the current VA loan at 2.25% can be transferred to a new VA buyer! Home is being sold strictly AS-IS. Any remaining furniture or personal items left by the seller will be conveyed with the home. Seller prefers a settlement date at the end of April. Don’t miss this fantastic opportunity to customize and modernize a home with great bones in Montpelier! Schedule your showing today.
Source: BRIGHT #MDPG2143290
Source: BRIGHT #MDPG2143290
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.