INSTANT EQUITY! PRICED BELOW APPRAISED VALUE FOR QUICK SALE! Welcome to 20665 Golden Thompson Road, Avenue, MD 20609. This is a rare, high-equity opportunity to own a stunning waterview home sitting on 3.34 expansive acres in Saint Mary's County. Built in 1996, this property has been freshly appraised and is intentionally listed UNDER full appraised value for a fast sale. The motivated seller is offering an incredible deal on a massive piece of property that is entirely NOT in a flood zone. APPRAISER CONFIRMED SQUARE FOOTAGE AND PRIVATELY OWNED PIER Please note that the public tax records are incorrect regarding the square footage of this home. A recent professional appraisal measured the property at a generous 2,770 total square feet, featuring 2,490 square feet of fully finished living space and 280 square feet of unfinished space. Even better, this property comes with a deeded, privately owned pier with a designated 25-foot easement for permanent, easy access. You can launch your water adventures right from your own private dock. RECENTLY RENOVATED WITH UPGRADES THROUGHOUT The home was mostly renovated in 2022, introducing brand-new double-pane windows, new gutters, and fresh designer light fixtures throughout. Gorgeous hardwood floors and durable luxury vinyl plank (LVP) flooring flow seamlessly across the main level, leading to plush carpet in the upstairs bedrooms. There are too many new items from the renovation to list! The transformed kitchen boasts premium quartz countertops and modern Wi-Fi-enabled smart appliances, including a high-end 5-burner range complete with a built-in air fryer option. For ultimate value, both the washer and dryer convey, along with the extra refrigerator located in the garage. CUSTOM VALUE-ADD OPPORTUNITY IN THE BATHROOMS While almost everything in the home is completely new from the 2022 remodel, the bathrooms allow the next owner to add an instant personal touch and equity. The hall bathroom is functional but was left original. The primary bathroom has been gutted to prepare for a luxury setup. The toilet is currently working, but the shower and sink area need to be finished. To make this easy for the buyer, the seller already has the brand-new shower stall insert on-site, and it will convey with the sale, ready for your contractor to install. OUTDOOR ACREAGE, WIRED SHED, AND ACRES TO ENJOY The 3.34-acre lot provides unparalleled privacy and country utility. A portion of the acreage (approx 2 acres) is currently farm-leased, offering a unique opportunity for passive land maintenance. The property also features a huge 12x30 outdoor storage shed that is fully equipped with active electrical hookups, making it the perfect workshop, hobby space, or boat storage garage. PRIME MECHANICAL updates AND PEACE OF MIND Enjoy structural and mechanical confidence for years to come with major capital improvements already handled. The roof was entirely replaced in 2021, and the septic system was completely pumped in 2022. In May, the central air conditioning system received a brand-new air compressor, new refrigerant, and a new line filter to ensure freezing-cold air all summer long. With a motivated seller, instant equity from day one, massive acreage, and private pier access, this Avenue gem will not last. Schedule your tour 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.
