Discover the perfect blend of early 20th-century character and modern functionality in this stunning 1920s farmhouse at 2715 Lower Marlboro Rd. Located in the historic heart of Calvert County, this property is a "true gem" for those seeking a connection to Maryland’s rich historical past without sacrificing contemporary comforts. The Residence: Built in 1920, this 4-bedroom, 3-bathroom home has been lovingly maintained to preserve its historic soul: Timeless Finishes: Original hardwood floors flow through every room, offering a warmth and durability rarely found in modern builds. Spacious Living: With four generous bedrooms and three full baths, the home provides a comfortable layout for family and guests alike. Finished Basement: Adding a rare layer of versatility to a historic home, the finished basement is ideal for a cozy den, home office, or climate-controlled hobby space. 3 Acres of Modern Homesteading The property extends over 3 acres of lush, usable land, designed for both productivity and play: The Tobacco Barn: A magnificent piece of local history, this massive barn is a hobbyist's dream, featuring a mechanic’s pit and a 100-amp metal sub-panel for heavy-duty projects. Flourishing Orchard: Enjoy a literal "farm-to-table" lifestyle with 100 newly planted trees. The grounds have established organic apple, pear, mulberry, and plum trees, alongside established patches of blueberries, blackberries, and wild raspberries. Country Amenities: The estate includes a dedicated chicken coop for fresh eggs and a custom tree fort that adds a touch of whimsy to the landscape. Chicken can convey if buyer so chooses. NEW SEPTIC INSTALLATION SCHEDULED FOR JULY The seller will consider offering their 2.25% VA assumable loan to eligible VA buyers. Ask your Realtor for more information.
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.
