Fully Renovated Single Family Home in Sought-After Marriottsville, Howard County! Stunning and completely renovated two-story home offering over 5,000 sq ft of finished living space. This spacious residence features 5 bedrooms, 4 full bathrooms, and multiple living areas perfect for extended families or rental income. The main level offers an open-concept layout with a combined living room, dining room, and gourmet kitchen featuring a luxury quartz waterfall island . Enjoy direct access to the backyard oasis, which includes a fully updated in-ground pool with new plumbing, filter system, plaster, coping, tile, and LED multi-color lights. The outdoor area is ideal for entertaining, featuring a custom patio kitchen and plenty of space for gatherings—your own private retreat! A brand-new high-efficiency heater was just installed for the pool, so you can enjoy comfortable water temperatures all season long! Main level also includes the owner’s suite with a luxury en-suite bath, two additional bedrooms, two fully remodeled bathrooms, and a stylish laundry room with quartz counters and waterfall edge. The lower level includes two bedrooms, a den/office, one full bathroom, a second kitchen, and a second laundry—perfect for an in-law suite or rental potential. The home also features three wood-burning fireplaces, new windows (2022), and a new roof (2021). A massive 2,400 sq ft detached garage with 14’ ceilings offers space for up to 10 vehicles. It includes insulated walls and doors, separate electric panel, 8” concrete floors, heating and A/C, and a new roof (2022). Ideal for Business or Car Enthusiasts! This expansive garage offers endless possibilities! Whether you’re looking for a space to operate your business, store equipment, or safely house your prized car collection, it’s the perfect blend of functionality and flexibility. Located just minutes from Turf Valley Resort, shopping, dining, and top-rated Howard County schools. Easy access to Route 32 and Route 70.
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.
