177 Pearce Creek Dr Earleville, MD 21919
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About this home
$5000 SELLER CONCESSION- Seller is offering $5000 towards any home improvements, painting, etc. Or use the $5000 towards a rate buy down. This classic Colonial offers timeless charm and modern convenience on a spacious 1.93 acre lot that backs to trees . A grand oak staircase greets you in the foyer, complemented by tile and hardwood flooring throughout the main level. The inviting living room and cozy den/study each feature floor-to-ceiling brick fireplaces with wooden mantels, perfect for relaxing or entertaining. The main floor also includes a home office, half bath, kitchen, and dining area with sliding glass doors that open to a sunroom with heated floors—ideal for enjoying the natural light and serene views year-round. Additional features include a side entrance from the carport, laundry area, and basement access. Upstairs, the expansive primary suite includes a large walk-in closet and en-suite bathroom with soaking tub and separate shower. Two additional bedrooms and a full bath complete the second level. The finished walk-out basement adds flexible living space with a bonus room (potential 4th bedroom), full bathroom, and a spacious storage/workshop/craft area. A unique shed area beneath the carport offers ample storage for outdoor equipment or recreational gear. The HVAC system is just 6 months old, offering peace of mind and energy efficiency. The home has a whole house water filtration system and softener that was installed 3 years ago. New siding, soffit, facia, and gutters installed 3 years ago. Seller is including the Zero Turn Lawnmower in the sale. Enjoy peaceful surroundings and frequent wildlife sightings. FOR THOSE THAT QUALIFY THERE IS A 2.75% ASSUMABLE VA LOAN, call for more details.
Source: BRIGHT #MDCC2016892
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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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