Have you ever dreamed of owning your own horse? This amazing farm may be just what you’re looking for. If you’re tired of the hustle and bustle of the city and need some peace and quiet to come home to we have the perfect spot for you. Worlds apart but still within close proximity to DC, Alexandria and Annapolis you can still commute to work during the week and relax on the weekends. Maryland Waterfront Properties is delighted to present an exceptional custom-crafted equestrian estate located in Tracys Landing, MD. This elegant property is thoughtfully designed around a symmetrical grand center hall and offers a total of seven spacious bedrooms, providing luxurious living with ample room for comfort and privacy. The first floor of the main residence features a convenient master suite and a dedicated office/library with its own private entrance, ideal for both productivity and relaxation. Additionally, the estate includes a separate in-law suite, offering privacy and comfort for guests or extended family members.This suite boasts breathtaking views of the Chesapeake Bay and is ideally situated near two local marinas, making it perfect for water enthusiasts. For those with equestrian interests, the expansive 13+ acre property is exceptionally well-equipped with a 125’x250’ riding ring and a well-appointed ten-stall barn. Despite its serene and private setting, the estate remains within convenient commuting distance to major metropolitan areas such as Annapolis, Washington D.C., and Baltimore, offering a perfect blend of rural charm and urban accessibility. This unique property truly combines the finest amenities with an atmosphere of casual elegance. ****Additional waterfront acreage available . Inquire with Listing Broker.*** If you are interested in learning more about this remarkable Estate, reach out to the exclusive listing broker Casey A. Sutherland with Maryland Waterfront Properties.
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.
