2430 Steamboat Way Bel Air, MD 21015
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About this home
Beautiful Colonial Craftsman residence offering 2,480 square feet, 3 bedrooms, 3 full baths, 1 half bath, and a 2-car garage in the sought-after James Run Carriage Homes community. Step into the welcoming foyer, where gleaming floors introduce the open-concept main level. A cozy dining area sits alongside the stunning eat-in kitchen, which boasts an oversized island with breakfast bar seating, a white subway tile backsplash, stainless steel appliances, and crisp white shaker-style cabinetry. Past a convenient powder room, the layout seamlessly opens to the spacious living room with direct access to the outdoors. Conveniently located on the main level, the primary suite serves as a private retreat, complete with a tray ceiling, a walk-in closet, and a spa-inspired bath featuring a dual-sink vanity and elegant finishes. Upstairs, two additional bedrooms, a versatile bonus room, and another full bath provide comfortable accommodations for family or guests. The finished lower level expands the living space with a large, open recreation room perfect for entertaining or relaxing, a versatile bonus room, and a full bathroom. Outdoor living is equally inviting with a covered deck overlooking a wide green space that backs to mature trees, creating the perfect setting for year-round enjoyment.
Source: BRIGHT #MDHR2045316
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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.