Welcome to 5822 Forest Hill Rd, a charming three-bedroom, one-and-a-half-bath ranch home offering comfortable living space, thoughtful updates, and a desirable walk-out basement. With more than 2,000 square feet including the sunroom and finished basement, this home combines everyday convenience with inviting indoor and outdoor spaces on a spacious .35-acre fenced yard. Inside, you’ll find fresh paint throughout the home, hardwood floors, and ceiling fans. The kitchen was updated in 2019 with modernized finishes, and the air conditioning system was also updated in 2019. The sunroom features new waterproof luxury vinyl flooring completed in 2026, adding another comfortable space to relax and enjoy the property. The recently remodeled lower level, completed in 2026, features fresh paint, new carpet, an updated half bath, and additional improvements. This flexible space includes a large recreation room and laundry/utility room, offering excellent potential for additional living, recreation, office, or workspace needs. A natural gas pot belly stove adds warmth and character, while the walk-out design provides convenient access to the yard. Enjoy outdoor living from the expansive deck, ideal for relaxing, grilling, and entertaining, along with the sunroom overlooking the fenced yard. The property also includes a two-car parking pad and two sheds, including one with electric that is well suited for workshop or storage. Conveniently located near parks, restaurants, and schools, this home offers easy access to Rockburn Park, Patapsco Valley State Park, the new Elkridge Volunteer Fire Department (just 0.9 miles away), and Elkridge Library (approximately 1.7 miles away). Major commuting routes, including I-95 and Route 100, are close by, with Fort Meade, NSA, and BWI Airport also within easy reach. The seller’s VA loan at 3.125% may be assumable. Plus, a home warranty is included for added peace of mind. No HOA. Welcome home!
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.
