1225 S Hanover St Baltimore, MD 21230
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About this home
Welcome to 1225 South Hanover Street, a fantastic opportunity in the heart of one of Baltimore's most desirable and rapidly appreciating neighborhoods! This charming Federal Hill townhouse puts you right in the center of a vibrant, walkable lifestyle. Live steps away from the bustling Cross Street Market, scenic Federal Hill Park, and the Inner Harbor's waterfront promenade. The area is a foodie's paradise with countless restaurants, lively bars, and boutique shops all within a short stroll. With a high walk score, you can leave your car behind and immerse yourself in the dynamic energy of this trendy community. The home offers an incredible entry point into a neighborhood where home values are consistently on the rise. Inside, you'll find a canvas ready for your personal touch. Featuring classic Baltimore exposed brick, a unique courtyard, and spacious rooms, this home provides the perfect foundation to create your dream urban oasis. It's a rare chance to add significant value and customize a property to your exact taste, all at a price point that makes homeownership in this sought-after area a reality. Don't miss out on this prime investment in a location that blends historic charm with a modern, convenient lifestyle. Schedule a showing today and discover the potential that awaits at 1225 South Hanover Street.
Source: BRIGHT #MDBA2181248
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.