Some houses need your vision....and your money. This one just needs your furniture and your family. That’s what makes 20 Hall Highway stand out. Located in the waterfront community of Crisfield, Maryland, this 3-bedroom, 2-bath home has already undergone many of the improvements that buyers typically worry about most. While tax records may reference an earlier construction date, the home was extensively renovated between 2001 and 2003, with additional major improvements completed from 2022 through today. And if you only take one thing from this.... leave with that! It's important! Because replacing roofs, updating electrical systems, and floors, and plumbing... and making "all the" improvements can quickly turn an affordable home into a very expensive one. Fortunately, much of that work has already been done. The result is a home that feels move-in ready today, while still leaving room for future owners to personalize and update things at their own pace if they choose. Outside, you'll own nearly an entire acre! Inside, you'll find approximately 1,890 square feet of living space, including three bedrooms, two full baths, updated flooring, spacious living areas, and a layout that provides flexibility for year-round living, a second home, or even a future investment opportunity. The detached garage offers additional storage, workshop space, or room for all the equipment that naturally comes with life near the water. And in Crisfield, life revolves around the water. Fishing boats. Kayaks. Crab pots. Marinas. Waterfront restaurants. Early morning sunrises over the Chesapeake Bay. It's a lifestyle that continues to attract buyers looking for something increasingly difficult to find: authenticity. The fenced backyard creates a private outdoor space for relaxing, entertaining, pets, or simply enjoying the slower pace that makes Crisfield unique. The location only adds to the appeal. Conveniently located within the City of Crisfield and close to the TidalHealth campus, this home provides easy access to the Crisfield City Dock, local marinas, waterfront dining, the Tangier Island Ferry, and nearby Janes Island State Park, one of Maryland's premier destinations for kayaking, boating, fishing, birdwatching, and exploring the Chesapeake Bay's natural beauty. And here's what may be the most attractive feature of all. Homeownership is becoming harder to afford. Finding a move-in-ready home where the major improvements have already been completed is becoming harder to find. Finding both at the same time?....That's where opportunities like this makes a home stand apart. 20 Hall Highway offers a comfortable home today, a strong foundation for tomorrow, and an opportunity to enjoy Maryland's Chesapeake Bay lifestyle without spending the next several years renovating your way into it.
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.
