A rare acre of land inside Baltimore City, a beautiful home set back from the road and backing up to a wooded, park‑like setting, 202 S Athol Ave offers space, privacy, and possibility that almost never come to market. This 4BR, nearly 2,000 sq ft home sits on over an acre of usable land—ideal for gardening, homesteading, play, pets, or future expansion (buyer to verify). This beauty is back on the market because the buyer's financing fell through, not because of any inspection issues. Set on land once belonging to the storied Athol Estate, this property has a thread of Baltimore heritage woven into its landscape. In the late 1800s, industrialist Charles J. Baker built the grand stone Athol mansion just up the hill—a once prominent estate surrounded by 28 acres of gardens, stables, and recreation grounds. As the city grew and the estate was gradually subdivided, homes like this one emerged along S. Athol Avenue, still retaining the large, wooded acreage. The sun rises on east facing front porch and stone pathways. The mature trees, fenced yard, and koi pond create a true retreat. Inside, the classic details truly shine- hardwood floors, a wood‑burning fireplace, original pocket doors leading to the formal dining room, and a sunroom/enclosed side porch that adds flexible living space. The rear deck off the kitchen is perfect for outdoor dining or morning coffee. Major improvements include a new water main, updated PEX plumbing, energy‑efficient windows, French drain with dual sump pumps, and mini‑split HVAC on the bedroom level. Four generous bedrooms with closets, plus a finished upper level provide options for office, studio, or guest space. Parking for 4+ cars. For buyers who want land and community, this property hits the sweet spot. With over an acre of usable space, you’ll have room for gardens, pollinator beds, chickens, shared outdoor areas, or collaborative projects with friends and neighbors. A diverse neighborhood, 6 mins to exit 13 on West Hwy 695 If you dream of growing your own food, hosting outdoor dinners, having extra space for a studio or workshop, or simply having space to breathe while staying rooted in Baltimore’s culture, this home delivers! Don't sleep on this chance to build a modern, community‑minded life on a historic piece of land.
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.
