1513 Princess Anne Ln Pocomoke City, MD 21851
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About this home
Turn-key 3BR/2BA contemporary - fresh paints, new carpeting - detached garage features a huge, finished rec room. Welcoming brick walkway to your covered porch. Hardwood floors through the spacious living room into the formal dining room w/chair-rail molding, breakfast bar opens into the kitchen. Stainless steel appliances, including a great gas-stove, deep storage closet. Small flex room w/hardwood floors + plenty of outlets functions as an efficient home office/computer room. Full bath w/tub/shower combo + laundry room w/full-sized stackable washer/dryer completes the first floor. Upstairs, primary bedroom w/new carpet, walk-in closet, attached bath that also opens to the hall. Updated full bath w/custom tile shower, oversized vanity, + LVP flooring. 2 additional bedrooms with ceiling fans, new carpet + paint. Tons of parking space on the asphalt driveway leading back to the detached garage w/1 overhead door, and a huge finished + conditioned rec room. Great location - tucked away on a residential street, but just 1.4mi to Historic Downtown Pocomoke - a charming small town with rich history, art scene, boutique shops - even its own movie theatre - public parks and boat docks, & unique restaurants on the banks of the Pocomoke River. Location qualifies for 100% Financing! 19mi to NASA Wallops Facility, 19mi to beloved Chincoteague Island, and the incredible wild horses and sandy Atlantic beaches of Assateague. Close to everything Worcester County has to offer - boating, world-class fishing, crabbing, wildlife estuaries, incredible state parks - a true paradise for nature lovers, photographers, boaters - anyone who wants to enjoy the more relaxed pace of the Eastern Shore. Just 2-3 hours to major metro areas - Virginia Beach/Norfolk, Washington DC, Baltimore, Philadelphia, NYC. Life in Worcester County is good - from the beaches to the bays & beyond! Sizes, taxes are approximate.
Source: BRIGHT #MDWO2031240
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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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