Back to Active. Buyers' financing fell through. Beautiful home in the Woodland Beach community offers a serene water view of Glebe Creek and a lifestyle that blends comfort with coastal charm. Step inside to a welcoming living room where windows wrap around the walls and are topped with transoms, filling the space with natural light and framing peaceful water views from the corner. Hardwood flooring flows seamlessly through to the open kitchen and dining space, creating a cohesive main level that is both stylish and functional. The kitchen features granite counters, stainless steel appliances, a center island, and a recently added garden window perfect for plants or fresh herbs. Adjacent, the dining area includes a sliding glass door leading to the patio, encouraging easy indoor-outdoor living. Upstairs, the primary suite impresses with water views, dual closets, and a private en suite bath featuring a floor-to-ceiling tiled shower. Two additional bedrooms and a full hall bath complete the upper level, providing comfortable accommodations for family or guests. The lower level offers a versatile family room and a utility area with laundry, enhanced by waterproofing for peace of mind. Step outside to an inviting backyard retreat, enclosed by fencing for privacy. Paver walkways and a paver patio lead to a hot tub, pond, and storage shed, creating a setting ideal for relaxation and entertaining. Driveway parking adds everyday convenience. At the end of the street, one of the community piers provides a place to fish, launch a kayak, or simply relax by the water. Community amenities further enhance the lifestyle with access to five private beaches, multiple playgrounds, picnic areas, boat ramps, and marinas. A neighborhood walking trail connects directly to nearby Edgewater shops and restaurants. The home is also located in the sought-after South River High School district, further elevating its appeal. Additional recent updates include the replacement of six front windows, one primary bedroom window and the dishwasher, adding to the thoughtful care shown throughout. With water views, modern updates, and a backyard oasis, this Woodland Beach home is ready to be enjoyed.
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.
