✨MEMORIAL DAY SALE!! PRICE IMPROVEMENT!! ✨ Enjoy highly rated schools and FREE ANNUAL BEACH PASSES with this BEAUTIFULLY UPDATED, MOVE-IN READY 3-level townhome in the charming waterfront town of North Beach! ✨ Offering 3 bedrooms, 3.5 baths, and a versatile bonus room in the walk-out basement, this home has been completely refreshed and shines throughout. ✨ You'll like having your own 2-car long driveway, and a welcoming front porch that adds curb appeal, while inside you’ll find FRESH PAINT THROUGHOUT in an on-trend light neutral color. The TALL CEILINGS on the main level add to the spacious ambience. The large living room features stylish, BEAUTIFUL realistic-looking LAMINATE PLANK flooring and plenty of functional wall space. ✨ The EXPANSIVE KITCHEN offers abundant cabinet and counter space, a pantry closet, an ISLAND with snack bar, and a STAINLESS STEEL upgraded refrigerator (2024) and BRAND NEW stainless steel STOVE and microwave! Sunshine streams into the adjacent dining area, via sliding glass doors that lead to a low-maintenance DECK OVERLOOKING PICTURESQUE WOODED OPEN SPACE—perfect for relaxing or entertaining. ✨ Upstairs, enjoy ALL NEW CARPETING and a stunning PRIMARY SUITE WITH VAULTED CEILING, walk-in closet, and a luxurious bath with soaking tub, separate shower, and double vanity. ✨ Two additional bedrooms with ample closet space share an updated hall bath. ✨ The upstairs laundry, with high-capacity washer and dryer (2022) is extra convenient and time saving! ✨ The LEVEL WALK-OUT BASEMENT, with tall ceilings, adds even more living space, featuring new carpeting on the stairs and in the big bonus room, an updated full bath, plus a spacious FAMILY ROOM with lovely LAMINATE FLOORING and a DECORATIVE FIREPLACE. (The fire-box chase can be retrofited in the future with an electric or gas fireplace insert, if desired. The existing electric insert is non-functional and strictly decorative and sold as-is.) Sliding doors lead to a patio and yard backing to HOA open space and woods. ( One big bonus to note: the HOA will mow the backyard as long as it remains unfenced!!) ✨ Ideally located in the sought-after San Francisco by the Bay community, this home is approximately six blocks (.6 mi) to the scenic bayfront boardwalk. ✨ North Beach is known for its HIGHLY RATED SCHOOLS and a walkable, small-town lifestyle with sandy beaches, restaurants, shops, parks, and a new public library with multiple decks overlooking the bay, all within easy commuting distance to Andrews AFB, Annapolis, and Washington, D.C. Don’t miss your chance—schedule your tour today!
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.
