Nestled on 18.9 picturesque acres in beautiful St. Mary’s County, Maryland, this charming 4-bedroom, 2.5-bath Cape Cod offers the perfect blend of timeless character, modern upgrades, and exceptional income opportunity through farming and possible subdivision. Built in 1948 and meticulously maintained, the home showcases 1,981 square feet of living space plus a 959-square-foot unfinished basement, providing both storage space and future room to grow. From the moment you arrive, you’ll appreciate the peaceful setting surrounded by mature trees and lush greenery, offering privacy and a true escape from the pace of city life. A spacious rear wooden deck invites you to relax, entertain, and enjoy the tranquil views of your expansive property. Inside, the home features gorgeous hardwood floors throughout the main and upper levels. The thoughtfully updated kitchen boasts new cabinetry and stainless-steel appliances, blending style and functionality. The main level includes two bedrooms, a full bath, a half bath (newly added by the owner), dining room, and laundry room, while the upper level offers two additional bedrooms and a full bath, also newly added to the home. Outbuildings add even more value and versatility, including a large 904 sq. ft., two-car garage with workshop space, and a classic rustic tobacco barn. The barn has been carefully maintained with new wood reinforcements (2021–2026), new structural footers, and a roof repair and sealing in 2023, making it ideal for equipment storage or agricultural use. This property truly stands out for its extensive list of major upgrades and system improvements, reflecting exceptional care and investment: New energy-efficient heat pump HVAC system (Feb 2026); New metal roof on home and garage (2025); New gutters (2025); New energy-efficient hot water heater (2021); New PEX plumbing pipes throughout (2022); Basement resealed and waterproofed (2022); New well pump (2021); Septic system fully pumped (2021). The land itself is a standout feature. A portion is currently farmed for hay, providing immediate income potential, and it has also supported vegetable farming in the past. With a mix of open and forested acreage, the property offers flexibility for farming, recreation, or simply enjoying nature. Zoned as Rural Preservation District (RPD), this property is designed to maintain agricultural integrity while still offering future development potential. With the use of Transferable Development Rights (TDRs), there may be an opportunity to subdivide and build an additional dwelling, making this not just a home, but a strategic investment. Whether you’re seeking a private rural retreat, a working farm, or a property with long-term income and development potential, this exceptional offering delivers on all fronts. Make sure to view the video which highlights the home’s interior as well as aerial views of the home and property. Conveyance of furniture and equipment negotiable. Property also listed as farm and as land in MLS.
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.
