Welcome to 305 Kathryn Way, an inviting, beautifully updated colonial tucked into the sought-after Bay View Estates community of Havre de Grace. This 4-bedroom, 2.5-bath home sits on a spacious corner lot with mature landscaping, a fenced backyard, and a gorgeous Trex deck with white railing perfect for morning coffee or summer gatherings. Step inside to a bright, comfortable main level. The sun-filled living room flows into a dedicated dining room, while the family room off the kitchen creates the ideal everyday living space. The kitchen features white cabinetry, stainless steel appliances, and a cozy eating area with bay window overlooking the backyard. Glass doors open directly to the deck, extending your living space outdoors. Upstairs, you’ll find four bedrooms, all with fresh paint and carpet. The primary suite includes a huge walk in closet and an updated en suite bathroom with a walk in shower. A second full bath offers a tub/shower combo and tile flooring. The partially finished basement adds even more usable space, complete with new paint, carpet, a dedicated laundry room, and plenty of storage. The home also includes an attached garage with entry to the home. This home is equipped with a Sunrun (formerly Vivint Solar) photovoltaic system under a transferable Power Purchase Agreement, currently in year 12 of a 20‑year term. The system was installed with no upfront cost to the owners, and buyers benefit from purchasing solar-generated electricity at a lower per‑kWh rate than standard BGE pricing. Sunrun maintains, services, and insures the system for the duration of the agreement. Whether you’re hosting friends, relaxing on the deck, or enjoying the peaceful neighborhood, this home offers comfort, space, and charm in one of Havre de Grace’s most established communities. Move-in ready and beautifully maintained. 3D tour available.
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.
