Welcome to 273 Magothy Blvd—an irresistible blend of modern elegance and relaxed coastal living in the coveted Upper Magothy Beach community. This is more than a home—it’s a lifestyle, and once you step inside, you won’t want to leave. From the moment you enter, you’re greeted by sun-drenched spaces, fresh desirable paint (April 2026), and brand-new plush carpeting in all bedrooms (April 2026). Originally fully renovated in 2018, this home blends modern updates with lasting quality. The heart of the home—the kitchen—is truly a chef’s dream with open sightlines, stunning stone countertops, sleek modern shaker cabinetry and a double oven. Whether you’re preparing weeknight meals or hosting unforgettable gatherings, this kitchen delivers both style and performance. With 3 generously sized bedrooms and 2.5 beautifully updated baths, comfort is never compromised. The Primary and Jack & Jill baths both feature oversized walk-in showers with custom tile work and modern finishes. To enhance the showering experience, the Primary also boasts dual shower heads—bringing a spa-like retreat right into your daily routine. Step outside and discover your own private oasis. The large, fenced yard offers endless possibilities! Featuring an expansive deck and fire pit (logs ready and waiting), Large driveway and plenty of street parking this space is perfect for entertaining! A spacious shed adds even more versatility for storage or hobbies. Thoughtfully landscaped featuring a large mature organic Elderberry, Arabian Night black Dahlias, Yellow Dahlias, Gladiolus, Pink Rose Bush, Hydrangea Bush, and a Blossom tree directly outside of the living room bay window. As an added bonus, enjoy a neighboring mulberry tree that overhangs the backyard-producing delicious berries perfect for fresh snacking or homemade jam. What truly sets this home apart is its unbeatable location in a water-privileged community. Upper Magothy Beach offers access to the scenic Magothy River. From there, you’re just a short, boat ride to the iconic Chesapeake Bay—opening the door to endless adventures like waterfront dining, fishing, crabbing, sailing, and sunset cruising. Whether you’re an avid boater or simply love being near the water, this location is nothing short of exceptional. With no HOA and private no-cost neighborhood amenities including a boat ramp, beach, dog park, and playground—you get the best of both freedom and community. There is also a fully stocked combo deli and liquor store just 2 blocks away bringing even more convenience to this perfect location. Additional perks include a premium Hoot septic maintenance plan paid through June 2027 (valued at $400), offering biannual service and no-cost alarm responses, plus Verizon Home Internet readiness for seamless connectivity. The seller is also offering a $2,000 credit toward hardwood flooring upgrades, adding even more value. Homes like this—fully updated, thoughtfully designed, and perfectly positioned near the water—don’t come along often. If you’ve been waiting for something special, this is it. Schedule your showing today before someone else claims it!
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.
