Step back in time while enjoying modern comforts in this charming pre-Civil War 1850 Federal-style home located in the heart of historic Boonsboro. Rich in architectural character, this home is larger than it appears and showcases timeless details including double chimneys, Flemish bond brickwork, cut limestone window lintels, a grand side entry hall with a dramatic three-story open staircase, and beautifully refinished random-width hardwood floors, with exciting potential for future expansion in both the attic and basement. The upper level features two spacious bedrooms and a full bath. The main level offers a welcoming front parlor, a recently renovated kitchen, and a generous family room perfect for everyday living or entertaining. The lower level includes a partially finished basement with additional unfinished space for laundry, storage, and utilities. Step outside to enjoy the fully fenced backyard with alley access, off-street parking, and a one-car garage. Better yet, the property backs directly to the 50-acre Shafer Park, offering walking trails, sports fields, playgrounds, concerts, festivals, and year-round recreation just beyond your backyard. Located only 0.2 miles (approximately a 4-minute walk) from downtown Boonsboro, you'll enjoy easy access to charming shops, local restaurants, museums, and community events. Outdoor enthusiasts will appreciate being just minutes from Crystal Grottoes Caverns, Washington Monument State Park, Greenbrier State Park and Lake, Antietam National Battlefield, South Mountain State Park, Devil's Backbone County Park, and many other historic and recreational destinations. Whether you're searching for a full-time residence, an active lifestyle, or the perfect weekend getaway, this unique historic home offers the best of small-town charm, outdoor adventure, and Maryland history. Come experience everything historic Boonsboro has to offer!
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
