1158 Blue Bird Ln Crownsville, MD 21032
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About this home
The Seller is installing a brand-new nitrogen BAT septic system in the next 4-6 weeks which is already approved by the county. Welcome home to affordable living in the sought after water privileged community of Arden on the Severn. This private community offers multiple beaches, piers, boat ramps, covered and uncovered picnic areas, grills, a playground, volleyball areas, a dinghy dock, and a watercraft rack. All this is nestled on the shores of the lovely Severn River. The HOA covers the piers and beaches and there is no other community management in place. Blue Bird Ln. is just a 3-minute walk to the beach and offers seasonal views of the water when the leaves are off the trees. This home has great bones, is very clean and well maintained and is waiting for your personal updates to make it your very own dream home. The savvy buyer knows they can easily live in the home, while they create instant sweat equity, and it should pass all financing guidelines. The driveway has parking for 4+ cars and is waiting for your boat or RV. The main level offers a formal living and dining room, an eat in kitchen, and just down the hall is a convenient bathroom with tub and shower combo and three bedrooms. The dining room has a pass-through window from the kitchen and is adjacent to the generous sized rear deck for more great entertaining possibilities. The lower level has great natural light, a spacious family room with a pellet stove to keep you cozy on cool fall evenings and a door to the rear yard. The basement auxiliary space is perfect for a large family that needs a fourth bedroom, space for house guests, a home office or home school space. There is brand new carpet in both rooms. The laundry room has a utility sink, more space for storage and is adjacent to the utility space. The water treatment neutralizer, pressure tank and hot water heater are all newer. All this is convenient to commuter routes, great shopping and restaurants. The property is sold strictly as is, and the Seller will make no repairs. A home warranty is provided for peace of mind.
Source: BRIGHT #MDAA2124790
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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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