**Open House - Sunday, March 22nd, 12-2 pm** Welcome to 640 Old Baltimore Rd in the heart of Westminster, where character, space, and location come together beautifully. Situated just minutes from McDaniel College, Carroll Hospital, Carroll County Government offices, and vibrant downtown Westminster, this classic colonial offers the charm of small-town living with everyday convenience. Westminster is known for its historic architecture, local boutiques, community events, and easy access to both Baltimore and southern Pennsylvania — making it one of Carroll County’s most desirable areas. Step inside to an open and inviting main level featuring a beautifully remodeled modern kitchen (2025) with a separate dining designed for both everyday living and entertaining, you'll also have access to a full bathroom, a separate laundry room, and direct backyard access for seamless indoor-outdoor living. On the opposite side of the main level, you’ll find a cozy living room complete with built-in bookshelves and a gorgeous custom fireplace, plus a bonus room with exterior access — ideal for a home office, playroom, or guest space. Just beyond, the spacious family room is rich with character, featuring authentic barn wood paneling and structural beams, along with a stunning custom brick fireplace crafted from reclaimed brick sourced from a local schoolhouse and barn siding, a true conversation piece that connects the home to local history. An additional den or flex room provides even more versatility. Upstairs offers three spacious bedrooms with original hardwood floors, a double sink full bathroom, and walk-up access to a floored attic — perfect for additional storage or future expansion possibilities. The fully finished lower level significantly expands your living space with 3 additional bedrooms, a full bathroom, and a kitchenette— ideal for multi-generational living, guests, or extended stays. Major recent upgrades completed by the current owners include the addition of true central air conditioning, a new hot water heater, a newly expanded concrete driveway, the full kitchen remodel in 2025, and professional hardscaping in the backyard — adding both comfort and long-term value. Outside, the nearly half-acre lot provides room to play, garden, or entertain. The impressive 20x20 outbuilding is equipped with electricity and a woodstove, making it perfect for a workshop, hobby space, studio, or private office. If you’ve been searching for space, character, updates, and a location that keeps you close to everything Westminster has to offer, this is one you don’t want to miss.
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.
