Enjoy life in the highly desirable Cannon Bluff community in the heart of Frederick, where convenience, community and outdoor enjoyment come together just minutes from vibrant downtown Frederick, shopping, dining and commuter routes. Residents love the super convenient location, neighborhood, walking trails, playground/park and welcoming atmosphere. This spacious home offers 4 generously-sized bedrooms, 2.5 baths, laundry room on the bedroom level, a kitchen/dining/living room space with new LVP flooring installed (2023), ideal for everyday living and entertaining. A versatile flex room off the main entry with hardwood floors is perfect for a home office, playroom or additional sitting/living area. The kitchen features Corian solid surface countertops along with updated kitchen appliances installed in 2024. The walkout basement level is partially-finished offering additional living area, a rough-in bath, new sliding glass door (2023) and additional unfinished storage space. Step outside to a fabulous composite deck overlooking the fully-fenced backyard with a 6-foot vinyl privacy fence backing to open space-creating a peaceful setting/view with added privacy. The spacious lot offers room for gardening, bird-watching, outdoor activities and more, plus a convenient storage shed for tools and equipment. Major systems have been thoughtfully updated and upgraded for peace of mind. New roof installed in 2017 with architectural shingles, several windows replaced in 2021, water heater in 2020, air conditioning unit in 2023 and the clothes washer and dryer in 2026. A garage ceiling platform was installed for additional storage and the home was built with a pre-installed security alarm system ready for activation. Five rooms are cable coaxial ready , the living room was pre-wired for stereo surround sound and 2 bedrooms as well as the living area are hardwired with ethernet connections for reliable high-speed internet access. This home delivers...prime location, ample space and a private backyard make this property an excellent opportunity!
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.
