1417 Covington St Baltimore, MD 21230
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About this home
Nestled in the heart of historic Federal Hill, this charming 1860 townhouse offers a perfect blend of traditional architecture and modern convenience. The exterior features a stunning roof deck, providing breathtaking views of the Domino Sugars sign, the downtown skyline, and the Inner Harbor--ideal for entertaining or simply unwinding after a long day. Step inside to discover a thoughtfully designed interior that boasts two spacious bedrooms and two full bathrooms, ensuring comfort and privacy. The kitchen is a culinary delight, equipped with high-end appliances that include a built-in microwave, range, refrigerator, and dishwasher (all less than five years old). Other recent updates include a newly resealed roof, a new electric panel and service upgrade, and new exterior doors. The convenience of a front-loading washer and dryer on the upper floor adds to the home's appeal. The urban location is unbeatable, with commuter rail, light rail, water taxi, and bus lines just a short walk away. For those who travel frequently, the airport is conveniently located about ten miles from your doorstep. Local shops, restaurants, and parks are just around the corner. Enjoy leisurely strolls along the waterfront or take advantage of the nearby amenities that make this area a true gem. This property is not just a home; it's a lifestyle. Experience the charm of Federal Hill and make this exquisite townhouse your own!
Source: BRIGHT #MDBA2186068
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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.