Nestled in the serene community of Orchards of Linthicum, this 4-level home offers a view of nature. With 1,628 square feet of thoughtfully designed living space, this residence is perfect for those seeking a tranquil retreat while enjoying modern conveniences. Step inside to discover a warm and inviting atmosphere, featuring hardwood flooring, crown moldings and recessed lighting that create a welcoming ambiance throughout. The spacious combination dining and living area is perfect for entertaining Natural light fills the sunroom as you relax with a view of the community pond. The well-appointed kitchen, boasting granite countertops and stainless appliances, including a built-in microwave, dishwasher, and electric stove. Your primary bedroom includes an en-suite bathroom which features a beautiful walk-in shower. Two additional bedrooms offer ample space for guests or a home office, ensuring versatility for your lifestyle. The heart of the home is the family room, which features a cozy fireplace that adds a touch of warmth during cooler evenings and a wet bar for easy entertaining. New vinyl flooring makes clean up a breeze. The partially finished basement provides additional living space, perfect for a media room or play area, with a convenient rear entrance for easy access. The laundry area with oodles of storage, is thoughtfully located on the lower floor. The solar panels will make this home easily afforable. Outside, the property sits on a generous 0.18-acre lot that adjoins open space, offering a sense of privacy and tranquility. The front yard and side yards invite outdoor enjoyment, while the expansive deck is ideal for summer barbecues or quiet evenings under the stars. With a driveway accommodating two vehicles, convenience is at your fingertips. Located less than a mile from light rail and within easy reach of the airport and MARC train, this home offers an exclusive lifestyle with effortless access to urban amenities.
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.
