If you are you looking for a stunning home with over 7,000 total square feet of living space, situated on over an acre of meticulously landscaped grounds, and is centrally located to Annapolis, Washington DC and Baltimore, then this is THE place for you. As you enter this stunning brick colonial, you’ll notice a grand two-story foyer that is elegantly adorned with a graceful turned staircase. Off the foyer, you will find a spacious living room that invites both relaxation and conversation, along with a separate dining room, both of which are perfect for gathering with family and friends during special occasions and everyday meals. The main and upper levels feature rich hardwood floors that significantly enhance the beauty of this magnificent residence. Also on the main level is a light filled sunroom, accentuated by a tasteful tray ceiling, and a charming morning room off the kitchen that provides a delightful spot for quiet relaxation and enjoying your morning coffee. This level also boasts a well-appointed office that is ideal for productive work-from-home days, a cozy family room complete with a striking stone fireplace that serves as a stunning focal point, and an eat-in kitchen that is not only functional but also beautifully equipped with stainless steel appliances, granite countertops, and a butler's pantry that comes with a wet bar, making it perfect for entertaining. Freshly painted throughout, with stylish crown molding, elegant chair rails and 9 ft. ceilings, this home invites an abundance of natural light through its full-length windows. Venturing to the upper level, you will discover the luxurious primary bedroom suite, which includes a tranquil sitting area with fireplace that beckons for relaxation, two generous walk-in closets for ample storage, an updated ensuite bath fitted with a soothing soaking tub and separate shower designed for comfort, as well as a separate dressing room with sink and vanity. The second bedroom is also equipped with its own updated ensuite bath, while two additional bedrooms share a freshly renovated Jack and Jill bathroom, ensuring comfort and privacy for all residents. The lower level is a fully finished oasis, providing a fifth bedroom with an updated bath, a second office that can serve various purposes, and flexible spaces that can be adapted to meet your specific needs. A recreation room and game area, combined with a cozy fireplace and walk-out access to the beautifully landscaped backyard, make this space perfect for entertainment and leisure activities. The exterior features a rear composite deck that is complete with a screened in gazebo, spacious rear yard with a fire pit and places to just sit and relax among the mature trees, perfect for outdoor gatherings or peaceful evenings under the stars. Furthermore, it is conveniently located near the bustling Maple Lawn shopping center and major transport routes, blending luxury with accessibility and ensuring that all your daily conveniences are just a stone's throw away. This residence truly represents a harmonious balance of grandeur and comfort, making it an unparalleled choice for anyone seeking a dream home in Howard County.
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.
