Built in 2008, this Cape Cod sits on a third of an acre in the water-privileged community of River Club Estates, set well back from Central Avenue, and buffered by mature trees, bamboo, and conservation land along the side of the property. Gravel driveway fits three cars comfortably, up to eight for gatherings. Nine-foot ceilings on the main level. The living room features new luxury vinyl plank flooring (2025), gas fireplace with decorative mantel, and dentil crown molding, and flows into the dining room, new atrium doors with integrated between-the-glass blinds open to a deck overlooking the fully fenced backyard. Kitchen highlights: maple cabinets, granite counters, center island with stool seating, accent wall, tile flooring, crown molding, brand-new Samsung Bespoke refrigerator. Half bath and laundry on the main level. Three bedrooms, each with its own full en-suite bath - a rare layout. The main-level suite has two closets (one walk-in, one with full organization system) and a spa soaking tub. The two upper-level suites each have walk-in closets and full baths, rooms large enough for a king bed and home office in each. Fenced backyard with Amish-built storage shed. Garage has floor-to-ceiling shelving on one side, still fits a large SUV. Major systems current: HVAC (2021), well pump and water lines (2021), gutters and trim (2025), atrium doors (2025). Termite-treated and certified. Over $75,000 in documented improvements. Five minutes for groceries. Central to the DMV. Easy access to Fort Meade, Annapolis, DC, and Baltimore. Residents of River Club Estates can enjoy optional amenities through a voluntary HOA for just $75 per year, including access to a sandy beach, dock, picnic tables, watercraft rack, and benches, perfect for enjoying the waterfront lifestyle.
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.
