**OPEN SATURDAY, FEBRUARY 21st, 11AM-2PM** Waterfront Living at Its Finest in Rocky Point! Enjoy wide open water views and breathtaking sunsets in the highly sought-after Rocky Point area. Ideally located for both boaters and land lovers, enjoy easy cruising to Hart-Miller Island, Pleasure Island, and multiple waterfront dining destinations, while Rocky Point Golf Course and Essex Skypark are just minutes away. With 50’ of waterfront, 4’ mean water, sandy bottom and direct boating access to the Chesapeake Bay, this fully renovated 3-bedroom, 1.5-bath home delivers the ultimate Upper Bay lifestyle, complete with a rare basement and no flood insurance required. The outdoor setting is exceptional! A 120’ pier with new decking and a 30’ x 10’ T-head offers electric and water service, an 8,000 lb. boat lift with remote, jet ski lift, pier storage shed and dock boxes conveying. A sandy beach area, Trex walkway, new bulkhead, and poured concrete retaining walls create a waterfront footprint designed for entertaining, relaxing, and maximizing time on the water. Inside, the open-concept main level is designed for both everyday comfort and hosting. Porcelain tile floors and solid wood doors run throughout. The living room features a pellet stove with granite hearth, a dramatic two-story section with vaulted ceiling and a massive picture window framing the water from the main living areas and loft. Sliders lead to the paver patio and stunning screened porch with cathedral beadboard ceiling, seamlessly extending your living space outdoors. The fully remodeled gourmet kitchen offers white shaker cabinetry, granite countertops, stainless steel appliances, 5-burner gas range, under-cabinet lighting, tile backsplash, breakfast bar seating, great table space and a large window over the sink to capture the view. The adjoining dining area with vaulted cedar ceiling easily accommodates gatherings large and small, while a dedicated office with custom built-ins and bay window provides versatile space. Two spacious bedrooms and dual-entry full bath with jetted tub/shower combination are located on the main level. Upstairs, a private third bedroom with vaulted ceiling is complemented by an open loft overlooking the living room and capturing elevated water views — ideal for guests, lounge space or potential fourth bedroom or the opportunity to create a future primary suite . The street side of the home is equally impressive with a raised roofline, architectural shingle roof, updated siding with board & batten accents, covered front porch, custom garden shed with electric, oversized detached garage with workshop, electric and 240v outlet, white vinyl and privacy fencing, and parking space for 4–5 vehicles. Additional updates include HVAC with propane backup, multiple water heaters (including tankless for the jetted tub), encapsulated crawl spaces, and a full lower level with HardiePlank walls, speckled polyurethane flooring and abundant storage with great laundry area and workshop space, washer/dryer and shelving convey. Ideally positioned for both waterfront living and everyday convenience, with quick access to major commuter routes, Baltimore, and BWI. MOVE IN NOW AND BE SETTLED IN TIME TO ENJOY SPRING AND SUMMER ON THE WATER! **See the full list of updates that have been completed over the last 11 years** WELCOME HOME!
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.
