Enjoy waterfront living in this beautiful home on Cypress Creek in Severna Park's desirable Manhattan Beach community. Lovingly maintained and thoughtfully updated, this charming home offers the perfect setting for boating enthusiasts and those who enjoy entertaining by the water. Situated on a .58-acre lot with a gentle slope to the shoreline, the property features 76' of waterfront and a private pier in a protected cove with 5-6 feet MLW and space for 2 boats. From here you can easily reach the Magothy River and the Chesapeake Bay just beyond. The outdoor spaces are ideal for relaxing or hosting gatherings, with a spacious deck overlooking the water and a peaceful spring-fed goldfish pond surrounded by nature. The serene setting attracts a wide variety of local wildlife throughout the year and provides wonderful opportunities for avid bird watchers. Inside the home you'll find a warm and inviting living space with three bedrooms and two full baths, along with a bright four-season sunroom that captures beautiful water views. A main-level primary bedroom and remodeled full bath with a laundry hookup provides the option for convenient one-floor living. Upstairs you will find two additional bedrooms and an updated full bath. The unfinished walk-out basement includes a laundry area, workshop space and plenty of storage. Many wonderful interior details include newly refinished hardwood floors, classic knotty pine wood paneling, custom wood trim, french doors, and a masonry fireplace in the family room. Recent updates and improvements include fresh neutral paint (2026), new HVAC (2025), extensive landscaping (2023), new washer, dryer & electric range (2023), new paver driveway & walkway (2022), EV charging outlet (2022), updated flooring throughout (2021), jet ski lift (2021), and a new refrigerator & dishwasher (2021). The property also features dual driveways providing abundant parking and additional space for boats. Located in the award-winning Severna Park school district and within the highly desirable Manhattan Beach community, residents enjoy access to three community beaches, a boat ramp, a playground, and a community center. Whether you are looking for a full-time waterfront retreat, a place to entertain friends and family, or the opportunity to expand in the future, this Cypress Creek property offers a perfect combination of location, lifestyle and water access. Be sure to click the film reel icon in the listing for an interactive Virtual Tour!
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.
