Welcome to 18317 Chelsea Knolls Drive, a beautifully maintained home built in 2016 and located in the highly sought-after Howard County side of Mount Airy. Freshly painted throughout and featuring brand new carpet, this move-in ready home combines modern finishes, generous living spaces, and a functional floor plan designed for today's lifestyle. From the moment you enter, you'll appreciate the beautiful hardwood floors that span the entire main level, creating a warm and inviting atmosphere. The open-concept layout seamlessly connects the living, dining, and kitchen areas, making it ideal for both everyday living and entertaining. The kitchen is equipped with stainless steel appliances, ample cabinetry, and plenty of prep space, while the adjacent dining area opens to a spacious deck overlooking the large, flat backyard—perfect for summer barbecues, outdoor gatherings, or simply enjoying the peaceful surroundings. Upstairs, you'll find three generously sized bedrooms, as well as a spacious primary suite designed as a private retreat. The primary bedroom features a large walk-in closet and an en-suite bathroom complete with dual vanities, a soaking tub, and a separate walk-in shower. A dedicated laundry room on the upper level adds convenience to everyday living. The fully finished basement expands the home's living space with a large recreation room, an impressive wet bar perfect for entertaining, a full bathroom, and a private flex room that can easily serve as a home office, gym, playroom, or guest space. With plenty of room to spread out, the lower level offers endless possibilities to fit your lifestyle. Ideally situated in one of Howard County's most desirable communities, this home offers easy access to top-rated schools, parks, shopping, dining, and commuter routes while maintaining the charm and tranquility that make Mount Airy such a desirable place to call home. With fresh updates, modern finishes, and over three levels of thoughtfully designed living space, 18317 Chelsea Knolls Drive is ready to welcome its next owners. Schedule your private showing today!
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.
