1014 St Charles Dr Annapolis, MD 21409
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About this home
This five-bedroom, three full-bath colonial is situated on a corner lot in the desirable Cape St. Claire neighborhood of Annapolis. This home boasts a charming front porch and relaxing side patio, along with ample off-street parking including a two-car garage and four-car driveway. Step inside to find a home that is truly move-in ready, featuring fresh paint throughout, gleaming hardwood floors, new carpet, crown molding and recessed lighting. The updated kitchen showcases new cabinets and new stainless-steel appliances. The living room features a cozy wood-burning fireplace, adding warmth and character to the heart of the home. A bright and spacious great room, with sunroom area, provides a versatile space perfect for entertaining or relaxing. The main level offers flexible living options with two bedrooms featuring new carpet and an updated full hall bath. Upstairs, the primary suite is a true retreat, featuring cathedral ceilings and an upgraded en-suite bathroom with soaking tub and separate shower. Two additional bedrooms and another updated full hall bath complete the upper level. The lower level includes convenient garage access, rec room with new carpet, laundry closet with a new washer and dryer and a tiled storage room. Nestled in a charming, well-established community known for its welcoming atmosphere and excellent amenities, this move-in ready colonial offers the perfect setting for enjoying the Annapolis lifestyle.
Source: BRIGHT #MDAA2120586
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FAQs
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.
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