Welcome to your dream retreat on Maryland’s picturesque Eastern Shore! This stunning pastoral property, nestled on 1.5 manicured acres, offers the perfect blend of luxury, comfort, and functionality. With over 4,700 square feet of beautifully finished living space, this home features five spacious bedrooms, three full baths, and two half baths. Step inside to the heart of the home—a sun-drenched living area boasting soaring vaulted ceilings, an abundance of natural light, and a striking stone-surrounded pellet fireplace, ideal for cozy gatherings. The newly renovated kitchen is a chef’s delight, complete with high-end appliances, custom Fieldstone cabinetry, and elegant ceramic tile that extends into the newly re-done mudroom, complete with a laundry area and a private half bath. Enjoy the fresh look and feel throughout with new carpets, updated fixtures, and fresh paint. The home has been meticulously maintained, including a new roof less than 10 years old. A rare find, this property features not one, but two primary suites, one on each level. The upper-level primary suite is an impressive 1,200 square feet with a dedicated office, two walk-in closets, a spa-like ensuite bathroom, its own laundry, and private separate access—providing an ideal sanctuary for relaxation or work-from-home convenience. Additionally, the home offers 3 separate guest rooms, a guest full bathroom and 2 half bathrooms. The lower level primary suite is currently purposed as a billiard room and library, perfect for entertaining. Car enthusiasts and hobbyists will love the expansive 1,920-square-foot, three-bay heated garage, while the fully fenced yard offers spacious composite decks, a fire pit, and a shed that conveys with the property. Additional amenities include an RV parking pad with electrical hookup and a whole-home generator for peace of mind. With no HOA or restrictive covenants, this home is place of respite and autonomy. Experience the tranquility and beauty of Eastern Shore living in this exceptional property—move-in ready and waiting to welcome you home!
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.
