Welcome home! Nestled in this cherished waterfront community, serene views of Whitemarsh Creek greet you right from the front of the home. Whether you're looking to downsize into a low-maintenance water-oriented lifestyle or capitalize on incredible short-term rental potential, this property checks every box. This thoughtfully updated home offers an open floor plan ideal for effortless entertaining and everyday living, with rich hardwood floors and plantation shutters throughout. The generously sized living room features a charming brick corner fireplace and opens seamlessly into the gorgeously remodeled kitchen (2016), appointed with stainless steel appliances, an abundance of bright white cabinetry, granite countertops, and classic subway tile backsplash. The oversized island breakfast bar opens into the adjacent sunny dining area, where French doors lead directly to the wraparound deck for effortless indoor-outdoor living. A versatile flex space off the main living area is perfect for a home office, reading nook, or creative retreat. Both rare main level bedrooms feature elegant crown molding, plantation shutters, and ample closet space, connected by a beautifully updated jack & jill bath with a frameless glass door shower and modern finishes. The lower level offers a stunning full bath with an elegant freestanding soaking tub and floor-to-ceiling tile surround, dedicated laundry, and excellent potential for a workroom, hobby space, or additional storage. Step outside to the large wraparound composite Trex deck with remote-controlled retractable sunshade, where those front-facing water views set the perfect backdrop for sipping your morning coffee, dining al fresco, or simply unwinding as the sun sets over the creek. The fenced backyard is a true retreat as well, complete with a paver patio and brick fire pit ideal for gatherings. A storage shed and ample driveway parking large enough for parking an RV, boat, or summer guests round out the package. Major home system updates including roof (2022) with transferable lifetime warranty, HVAC (2024), water heater (2024), and windows (2015) offer true peace of mind. With Holiday Hill Marina only a block away, and both Weis Markets and Safeway conveniently within 5 miles, you'll be just minutes to charming downtown Annapolis, Mayo Beach Park, and Triton Nature Park. Quick access to Solomons Island Road, Central Avenue, Route 50, and Crain Highway. Come experience the relaxed water lifestyle this special community has to offer - schedule a private tour of your gorgeous new home 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.
