Tucked along scenic Annandale Road, just behind Mount St. Mary’s University, this east-facing Emmitsburg property sits on over 3 private acres with its own fishing pond and mature trees. This lovingly cared for 1920 home carries a sense of history while offering the comfort and functionality that fits today’s lifestyle. Outside, you’ll find a gorgeous, expansive wrap-around porch with a stone wall, perfect for gathering, dining, or unwinding while overlooking the grounds. The private fishing pond adds a special element that is rarely found in this unique setting. The backyard features a beautiful stone patio, a great spot for the grill, and convenient to the kitchen with easy access from the driveway. The land itself offers room to garden, explore, or simply take in the surroundings, and includes a custom chicken coop with an attached duck house that adds to the charm and usability of the property. Opportunities like this, where you have space, privacy, and usable land, are increasingly hard to find. Inside, you’ll find 4 bedrooms and 2.5 baths. Natural light fills the home, and the surrounding landscape creates a peaceful backdrop. The kitchen has been updated with newer appliances (2022), including a refrigerator, dishwasher, microwave, and double oven, along with a new sink and faucet (2025). The layout is comfortable and practical, with spaces that work well for everyday living. The second floor offers three bedrooms, a hall bath, and a flexible office or sitting room that leads to the primary suite. The fully finished attic serves as a private primary retreat, complete with its own full bath and beautiful 360-degree views of the property. Several important updates have already been completed. These include a new roof, downspouts, and gutter guards (2024), well pump replacement (2022), sump pump (2021), pressure tank (2025), and a new UV water treatment system (2026). For added peace of mind, the sellers recently tested the well water (March 2026), and the septic system was inspected and pumped (March 2026), receipts available. Located just minutes from downtown Emmitsburg, this special home offers a balance of privacy and convenience that fits the way you want to live.
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.
