Tucked among the pines and perfectly positioned along the golf course in the sought-after Captain’s Cove Golf & Yacht Club, this inviting contemporary ranch-style home offers the perfect blend of comfort, privacy, and coastal lifestyle. Featuring 3 bedrooms, 2 baths, and an attached 2-car garage, the home welcomes you with soaring rooflines, mature landscaping, and eye-catching architectural details. Situated on approximately 0.24 acres, the property enjoys beautiful golf course frontage with a peaceful setting surrounded by nature. Step inside to a bright and airy great room where soaring vaulted ceilings with exposed wood beams and a stunning stone fireplace create an impressive focal point. Oversized windows and glass doors fill the home with natural light while drawing your attention to the beautiful outdoor surroundings and golf course views beyond. The open layout flows effortlessly into the spacious dining area and kitchen, making entertaining easy and comfortable. The kitchen features abundant cabinetry, a center island, breakfast bar seating, and plenty of room for gathering with family and friends. Down the hall, you’ll find all three bedrooms conveniently located on one level, including a spacious primary suite with a walk-in closet and private bath. The guest bedrooms offer generous space and charming architectural details, including beautiful arched windows that add character and natural light. A bright enclosed porch/sunroom with skylights provides the perfect flex space for relaxing, hobbies, fitness equipment, or enjoying the included hot tub year-round. Outdoor living is just as appealing, with a large rear deck overlooking the golf course and mature trees, creating a peaceful retreat for morning coffee, grilling, or evenings under the stars. The backyard offers an open yet private feel, with direct access to the scenic golf course setting. As part of Captain’s Cove Golf & Yacht Club, residents enjoy incredible amenities including indoor and outdoor pools, fitness center, golf course, marina, boat ramp, waterfront restaurant, playgrounds, tennis and basketball courts, walking trails, and more. Conveniently located near Chincoteague Island, Assateague Beach, Wallops Flight Facility, and the Eastern Shore’s beautiful waterways, this home is ideal as a full-time residence, vacation getaway, or investment opportunity.
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.
