PROFESSIONAL PHOTOS COMING NEXT WEEK! Recently Updated Waterfront Estate on a Private Peninsula in Edgewater Experience extraordinary privacy, space, and waterfront living in this beautifully updated estate, nestled on its own private peninsula in the heart of Edgewater. Set on 10.77 acres off Beards Creek in Scotts Cove, this remarkable 7-bedroom, 5-bath home offers more than 7,700 square feet of finished living space and a truly one-of-a-kind setting surrounded by wooded conservation easement. Recent updates in spring 2026 include new CertainTeed Cedar Impressions siding in Coastal Grey, fresh Behr Cotton White interior paint, all new deck railings, and newly laid sod and landscaping. The home is move-in ready, while still offering the perfect opportunity for your own personal touches to make it truly spectacular. Designed for both comfort and entertaining, the home features window views throughout most water-facing rooms, a main-floor bedroom with full bath and private side entrance, and a private deck that was previously used as a media room and office. Additional special features include a new elevator installed in 2022, four geothermal heat pumps with five zones, tankless water heater, three steam showers, whole-house generator, owned solar panels, and much more. Waterfront amenities include 665 feet of creek frontage, a private pier, and two boat lifts. With mean low water at 18 inches, this setting is ideal for kayaks and smaller watercraft, and neighborhood discussions have included the possibility of dredging. Approximately 9.12 acres remain conserved, preserving the exceptional privacy and natural surroundings of this unique property. Located just off Route 2 South, this home offers convenient access to Lee Airport, shopping, dining at the Village at Lee Airport, Route 50, Route 97, Annapolis, Bowie, BWI, and Washington, D.C. With no HOA, R-2 zoning, and an unbeatable private setting, this is a rare opportunity to own a secluded waterfront retreat in an incredibly accessible location.
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.
