This thoughtfully designed three-bedroom, three-and-a-half-bath townhome offers approximately 2,918 square feet of beautifully appointed living space in the sought-after Wormans Mill community. 🏡🏡 A dramatic two-story entry foyer welcomes you into this elegant urban home, where upper-level views of the Catoctin Mountain peaks provide a stunning backdrop. The spacious dining room serves as the heart of the main level, flanked by a gourmet kitchen and an inviting living room featuring a cozy wood-burning fireplace. 🏡🏡The kitchen is equipped with high-end Monogram stainless-steel appliances and showcases hardwood floors, extended warm cherry cabinetry, and granite countertops. Convenient access from the attached two-car garage makes unloading groceries and deliveries effortless. 🏡🏡Upstairs, the spacious primary suite features a walk-in closet and a luxurious private bath complete with a soaking tub, separate walk-in shower, and dual vanities. Two additional bedrooms, a full bath, and a laundry room complete the second level. 🏡🏡The finished lower level offers exceptional flexibility for a variety of uses, including a recreation room, hobby space, guest quarters, or home office. A full bathroom on this level adds additional convenience. 🏡🏡Outdoor living is equally impressive, with a composite deck and patio fully surrounded by mature trees, creating a unique private oasis. A retractable awning provides shade throughout the day, creating a peaceful outdoor retreat ideal for relaxing or entertaining. 🏡🏡Residents of Wormans Mill enjoy outstanding amenities, including a clubhouse with a fitness room, library/living area, and full kitchen, as well as a community pool, pickleball courts, tennis courts, and basketball courts. 🏡🏡Ideally located near historic Frederick, Carroll Creek events, major commuter routes, shopping, and dining, this exceptional home combines comfort, convenience, and community living. 🏡🏡Don’t miss the opportunity to tour this beautiful property.
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.
