Beautifully renovated and move-in ready, this 3-bedroom, 1.5-bath brick townhome is located in the highly desirable Riverside neighborhood of South Baltimore. Nestled just south of Federal Hill, Riverside is a historic, highly walkable community centered around Riverside Park and known for its tree-lined streets, classic 19th-century brick rowhomes, strong sense of community, and convenient access to local dining, waterfront attractions, and major commuter routes. The neighborhood attracts a diverse mix of young professionals, families, and long-term homeowners. Situated on a charming tree-lined street, the home welcomes you with gleaming hardwood floors, a neutral color palette, abundant natural light, and an open, inviting floor plan. The main level features a spacious living room with an original fireplace that flows seamlessly into the dining room, creating an ideal space for everyday living and entertaining. Beyond the conveniently located half bath, the updated kitchen offers abundant cabinetry, stone countertops, stainless steel appliances, and a deep stainless steel sink positioned beneath a window overlooking the rear yard. The second level includes a convenient laundry area with shelving, a generously sized secondary bedroom with access to the updated full bath featuring a tiled walk-in shower with built-in bench seating, and a spacious primary bedroom complete with an original fireplace and a walk-in closet. The third level offers a private third bedroom with a large closet and additional space suitable for a sitting area or home office. A glass door provides access to the rooftop deck, offering additional outdoor living space ideal for relaxing or entertaining. The unfinished lower level provides clean, dry storage space along with the home's utility area and offers potential for future customization. Outside, a rear deck leads to a private patio and an off-street parking pad, providing both convenience and additional outdoor living space. Overall, the property reflects quality renovations, functional living space, and a desirable location within one of South Baltimore's most sought-after neighborhoods, with convenient access to parks, restaurants, shopping, employment centers, and transportation corridors.
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.
