Welcome to this beautifully updated Cape Cod in the water-privileged community of Riviera Beach along the Patapsco River in Pasadena, MD. Perfectly positioned on a fenced corner lot, this charming home blends classic character with thoughtful modern upgrades. Step inside to a deceptively spacious layout featuring beautifully installed luxury vinyl plank flooring throughout, a neutral color palette, crown molding, built-ins, and an easy flowing floor plan designed for comfortable living and entertaining. The inviting living room centers around a brick fireplace with marble tile hearth (fireplace conveys as-is and is not currently used by the owners). The updated kitchen is both stylish and functional, showcasing gray cabinetry with under-cabinet lighting, granite countertops, subway tile backsplash, and ample prep space. The adjacent dining room offers additional cabinetry and granite counter space — ideal for hosting gatherings. The main level includes two generously sized bedrooms and a beautifully renovated full bath featuring beadboard trim, tiled floors, and a tiled shower surround with glass doors. Upstairs, the spacious primary bedroom offers a cozy sitting area, built-ins, and abundant storage. The finished lower level expands your living space with a large family room, recessed lighting, powder room, exercise area, laundry room, and storage with built-in lockers. There is also potential for a fourth bedroom, home office, or guest space. Outdoor living shines with a covered porch, paver patio, and fenced backyard — perfect for entertaining, pets, or play. A standout feature of this property is the oversized, heated detached garage/workshop with plumbing and pitched roof design offering excellent ceiling height. Ideal for mechanics, hobbyists, home-based business use, or potential future conversion (buyer to verify with Anne Arundel County regarding ADU regulations and approvals). Major updates completed approximately four years ago include: roof (2020), HVAC, LVP flooring throughout, kitchen backsplash, dining room cabinetry and counters, full bath vanity and shower doors, marble hearth and mantel, half bath addition, washer/dryer, and more. Enjoy Riviera Beach amenities including two community beaches, boat ramp, pier, playgrounds, sports fields, and access to the Patapsco River. This home offers charm, updates, flexibility, and lifestyle — all in one of Pasadena’s most desirable water-oriented communities.
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.
