1138 Ramblewood Dr Annapolis, MD 21409
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About this home
Welcome to a lovely place to call home near the Deep Creek boat ramp in the highly desirable community of Cape Saint Claire in the Broad Neck school district. The main level is a bright and open concept with a cozy wood-burning fireplace in the living area for those upcoming chilly evenings. Double French doors leads to a quaint, quiet, and very private and low maintenance stone patio surrounded by the beauty and sounds of nature. The kitchen is beautiful as well as functional. You'll find lots of storage space, beautiful granite countertops and a large island. Hardwood floors are throughout on the main level. All three bedrooms on the upper level have beautiful California Closet systems to maximize space, and two full baths complete this level. There is a large lower level multi-use room that could function as a recreation/media room, gym or a home office that has a half bath for convenience. Fresh neutral color paint throughout. There is lots of room to expand in the unfinished basement and there is off street parking in the driveway for multiple vehicles. The treed lot next door is included. The community offers private beaches, several picnic and play areas, a fishing pier, three marinas with abundant boat slips, swimming, crabbing, local community shops, a community grocery store and a beautiful waterfront clubhouse for your next event or large gathering. Experience life near the water, fun community activities and events, nearby parks, public beaches, close access to major commuting routes, shopping, the Annapolis Mall and the Naval Academy. Don't miss this opportunity!
Source: BRIGHT #MDAA2125156
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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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