Welcome to 2400 Summerfield Drive, a stunning custom-built estate set on an exquisite 3.17-acre homesite in the highly sought-after Preserve at Beaver Creek Estates. Built by Robin Ford, one of only two builders in the state that is part of the prestigious Southern Living Custom Builder Program, this remarkable residence showcases timeless craftsmanship and elegant architectural detail throughout, including a dramatic two-story foyer with a curved staircase, graceful arched doorways, and rich hardwood flooring. Formal living and dining rooms set the tone for refined entertaining, with the living room featuring a bow window, fireplace, and built-in shelving, while the dining room is enhanced by a tray ceiling, classic wainscoting, and hardwood floors. The chef’s eat-in kitchen is a showpiece, complete with granite countertops, a center island with wine fridge, sleek stainless steel appliances, cooktop, double wall ovens, display cabinetry, breakfast bar, two walk-in pantries, and a bright breakfast room. Just off the kitchen, the family room impresses with its stone fireplace flanked by built-ins, cathedral ceiling, and direct access to the custom slate patio, along with a back staircase leading to the upper level. A private office with French doors and built-in bookcases offers a quiet workspace on the main level, while the luxurious primary suite serves as a true retreat, featuring a sitting room with built-ins, two walk-in closets, and a spa-inspired en-suite bath with soaking tub, glass-enclosed shower, dual vanities, private water closets, and direct access to the patio. Additional main-level conveniences include a laundry room, powder room, and entry to the attached four-car garage with epoxy flooring. Upstairs, two bedrooms share a full bath, while a fourth bedroom enjoys access to a versatile bonus room ideal for a studio, office, or additional living space, complemented by an additional full bath. The lower level expands the living area with a spacious game room, wet bar, full bath, and extensive storage. Outdoors, professionally landscaped grounds, a circular driveway, custom slate patio, and secure storage complete this extraordinary estate. Blending luxury, privacy, and thoughtful design, this home truly embodies refined Maryland living at its finest.
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.
