Charming Cape Cod on a half-acre lot, featuring new hardwood and laminate floors, an updated kitchen with modern appliances, refreshed baths, and fully renovated throughout. Parking is ample in the double-wide driveway as you make your way to the front door of your forever home. Step inside to a bright and airy main level offering a cozy living room filled with natural light, along with a generous dining room and kitchen accented by warm wood-tone flooring. With two working wood stoves, the home offers the perfect spots to relax and stay cozy all winter long. The kitchen boasts abundant cabinetry—including built-ins—granite countertops, and a deep sink perfectly positioned beneath a window. Down the hallway there is a comfortable bedroom and a newly remodeled, beautifully tiled full bath. The upper level is gorgeous with two bedrooms and a delightfully updated full bathroom and lavious laundry room. The fully finished lower level offers additional space for recreation, utilities and storage space. The home features a newly replaced boiler, offering reliable heating, improved efficiency, and reduced maintenance needs for years to come. From the dining room, French doors open to a large wood deck overlooking a private, fenced backyard complete with a fire pit, multiple sheds, a chicken coop, and plenty of green space—endless opportunities for outdoor enjoyment. Additional outdoor living spaces include a welcoming front porch, a back patio with gazebo, and a charming three-season room. The expansive, level lot also offers a whimsical shed, dedicated wood shop, and gorgeous landscaping. Here, you’ll feel like you’re living in the country—enjoy quiet community living, afternoon walks past horse farms, and minutes to Red Barn Ranch and top-rated schools—while still having easy access to I-70 and I-795 from 140, 32, or 97. You’re also close to vibrant downtown Sykesville and just minutes from shopping and restaurants. Move-in ready and rich with character, this home offers the perfect blend of comfort, convenience, and country charm. A dream property! Mortgage savings may be available for buyers of this listing.
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.
