12035 Galena Rd Massey, MD 21650
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About this home
Price Improvement! Welcome to this Hidden Gem on 1.11 Acres! Just minutes from rt 301, this property provides the best of both worlds—peaceful rural charm and convenient access to Middletown, Dover, and Chestertown. This custom built one-level home has 2x6 walls and features a partial open floor plan with 3 bedrooms and 2 full bathrooms. Offering the ease and comfort of single-story living, there's something special for the entire family. Enjoy the beautiful Scotch Pine wood imported from Finland on the walls, vaulted ceiling and a new Pelpro pellet stove for that authentic cabin feeling. Recent upgrades include a 5-year new metal roof, new front door, LVP flooring, new hot water heater, stove, dishwasher, shutters, pool pump, landscaping, and a fully encapsulated crawl space with dehumidifier for peace of mind. Step outside and enjoy the expansive private backyard retreat with a spacious covered deck or cool off in the above-ground saltwater pool (2018) on hot summer days. For those colder months you'll enjoy the 6 person Vita Spa (2018). A true highlight of this property is the fully insulated and air conditioned 24’ x 32’ shop/garage, complete with 100-amp electric service, a 2 post vehicle lift, and a 220-welding receptacle. There's even a small office in rear of shop. Perfect for mechanics, welders, or anyone with trucks, boats, or equipment. There is an 18x20 ft lean to with metal roof and a 40 ft shipping container for secure storage. Come tour this unique home and make your dreams a reality today!
Source: BRIGHT #MDKE2005396
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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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