Luxury, Space & Water-Access Living Welcome to Patuxent Palisades, one of Dunkirk’s most desirable water-oriented communities, where quiet streets, spacious homesites, and access to the Patuxent River lifestyle create an elevated Northern Calvert experience. Set on 1.33 acres among impressive water-access and waterfront homes, this move-in-ready 4-bedroom, 2.5-bath brick rambler offers modern comfort, major improvements, one-level living, generous parking, and an incredible backyard made for entertaining. Positioned toward the front of the lot, the home opens to a remarkable rear setting with two fenced areas plus a wide open lawn. There is room for cookouts, gatherings, pets, play, gardening, outdoor dining, future enhancements, or quiet evenings surrounded by mature trees. The driveway offers plenty of parking for guests, while the two-car garage and detached outbuilding/workshop add valuable storage, utility, and project space. Inside, timeless rambler appeal meets a refreshed, move-in-ready feel. The main living areas offer a comfortable flow with natural light, skylights, updated flooring, and a dramatic vaulted living room featuring exposed beam detail, built-in display shelving, and a striking painted-brick fireplace wall. The renovated kitchen includes white cabinetry, upgraded countertops, stainless steel appliances, recessed lighting, and a bright connection to the dining area, creating an inviting hub for everyday meals and effortless entertaining. A custom built-in with glass-front cabinetry, serving space, and wine storage adds a polished touch. All four bedrooms are located on the main level, offering the ease of one-level living without sacrificing flexibility. The primary suite includes generous closet space, a private bath, and direct outdoor access. Additional bedrooms are well positioned for guests, work-from-home needs, hobbies, or everyday living, while the separate den/office provides even more space to relax, work, or create. The laundry/mudroom adds practical function with cabinetry, counter space, and a sink. The sellers have invested significantly during their ownership, completing meaningful, high-value improvements throughout the property. Updates include a replaced roof with skylights in 2021; Andersen windows with screens throughout in 2024; Andersen sliding doors replacing the former French doors in both the living room and primary bedroom in 2024; new gutters in 2024; a new garage door and opener system in 2024; a replaced water treatment system including salt tank and motor in 2024; replaced driveway and front and rear patios in 2024; capped chimney in 2025; replaced yard fencing in 2025; wall-to-wall carpeting in the bedrooms, living room, and den in 2025; and replaced septic tanks with a new drain field installed in 2025. These updates provide comfort, confidence, and long-term value for the next owner. Outdoor living is where this property truly shines. The 1.33-acre homesite offers rare usable space, with fenced sections for pets or play and a large open area ready for lawn games, gardens, gatherings, a firepit lifestyle, or your own outdoor vision. It feels peaceful and private, yet wonderfully functional for hosting and everyday enjoyment. Beyond the home, Patuxent Palisades offers the lifestyle buyers wait for: a quiet, established, water-access community surrounded by nature, attractive homes, and the relaxed elegance of the Patuxent River. Enjoy the feeling of being tucked away while remaining close to Dunkirk conveniences, commuter routes, schools, parks, shopping, dining, and recreation. A county storm drainage easement was added to the property. Beautifully improved, spacious, peaceful, and positioned in one of Dunkirk’s most sought-after water-oriented communities, 12029 Palisades Drive is more than a home. It is a rare opportunity to enjoy luxury-community living, usable acreage, modern updates, and an everyday lifestyle that feels special from the moment you arrive.
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.
