Welcome to this exquisite home in the Estates at Liberty Reservoir. This highly sought-after luxury community that perfectly balances countryside tranquility with modern conveniences, in a peaceful environment. Only 10 years young, this 5 bedroom (one on the main floor), 4.5 baths, 3 car garage checks all the boxes. The open flow of the main floor has an incredible kitchen designed to practice your culinary skills 5 burner gas cook top, double wall oven and on the center island, which adjoins the 2 story family room with fireplace and coffered ceilings. The stunning view from the family room is complimented by the wrap around deck, that also allows for cover over the spacious patio with fire pit. There is even a small basketball paver court for a little competitive practice. The upstairs has a Jack & Jill Bath with individual sinks adjoining both bedrooms, plus another spacious bedroom with an en suite bath and walk in closet. The "Piece De Resistance" is the primary suite! An expansive and serene bedroom with ample space for a sitting area to relax and unwind, is complimented by the spacious bath with 2 vanity sink areas, a walk in shower for 2, private lavatory area, and an almost endless closet area with built ins. Both the main floor and upper floors have no carpet with can be a great feature for people with allergies. The lower level was made for your entertaining! A spacious family room with a pool table that will convey. has a large built in bar area, with sink, beverage fridge, and dishwasher. Also an individual office space and full bath. This fun filled space leads to the peaceful back yard with patio and built in firepit to enjoy well into the Fall, all while enjoying natures beautiful view and the music made by the melodic variety of birds. Situated on a peaceful lot, in this home you would live directly adjacent to the breathtaking 9,200-acre Liberty Reservoir and Cooperative Wildlife Management Area, offering year-round hiking, horseback riding, bird watching, rowing, and photography. While this home feels like a quiet rural retreat, you are just minutes away from the vibrant shopping, dining, of award winning Eldersburg/Sykesville. Eldersburg offers quick, convenient highway access to major employment hubs in Baltimore, Frederick, and Washington, D.C. Many commuters to NSA, Ft. Meade, Johns Hopkins & DC. Are you ready to enjoy this serene estate living? Call Nancy & Eric Horne today for private tour.
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.
