ASSUMABLE 2.25% VA LOAN AVAILABLE (Qualified Buyers – Inquire for Details) Welcome to one of the most exceptional and extensively updated homes in Richfield Station—3500 SF sitting on .69 acres where modern upgrades, spacious living, privacy and the coveted Chesapeake Beach lifestyle come together in perfect harmony. Refreshed for 2026 and truly move-in ready, this beautifully maintained 4-bedroom, 2.5-bath, 2-car garage home offers a rare opportunity to own a property where virtually every major system has already been upgraded. Simply move in, unpack, and enjoy. The heart of the home is a spacious kitchen featuring granite countertops, a center island, abundant cabinetry, and newer Samsung and KitchenAid appliances—perfect for everyday living and entertaining alike. Recent 2026 updates include fresh interior paint and bathroom enhancements, creating a bright, modern, and welcoming atmosphere throughout. What truly sets this home apart is the extensive list of recent capital improvements, including: • Rare 2.25% VA assumable mortgage (subject to lender approval) • Two new HVAC systems (2024/2025) • Brand-new deck (2026) • Smart Nest thermostats (2024/2025) • Roof replaced with architectural shingles (2017) • New water service line from meter to home (2023) • New 6" gutters and downspouts (2023) • New chimney cap (2025) • New garage door (2025) • New washer and dryer (2025) • Updated lighting throughout • Commercial-grade 2 HP garbage disposal • Newer Samsung appliances and KitchenAid dishwasher • Bathroom updates completed in 2026 The main level features rich hardwood flooring, soaring foyer and dining ceilings, oversized windows, and an inviting sunroom overlooking the backyard—ideal for morning coffee while watching families of deer sunbathe, reading, or gathering with family and friends. Upstairs, you'll find four generously sized bedrooms, including an impressive owner's retreat complete with walk-in closet, a private sitting area, and a spacious ensuite bath featuring a soaking tub and refreshed finishes. The finished lower level provides exceptional flexibility and can easily serve as a recreation room, media room, fitness area, home office, or additional entertaining space. Step outside to your private backyard retreat featuring a brand-new Trex deck and fenced yard—perfect for grilling, relaxing, entertaining, pets, or play. Residents of Richfield Station enjoy direct access to the Chesapeake Rail Trail System and Fishing Creek Boardwalk, while Chesapeake Beach residents also enjoy access to exceptional schools, sandy Bay beaches, waterfront dining, farmers markets, local shops, community events, playgrounds, and recreational amenities throughout the Twin Beaches. Conveniently located for commuters with easy access to Andrews Air Force Base, Annapolis, Washington, D.C., and major transportation routes, this home offers the perfect balance of coastal charm and everyday convenience. Not a townhouse or condominium. Quarterly HOA fee is only $84.
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.
