2767 Cove Lake St Lusby, MD 20657
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About this home
Welcome to your Southern Maryland hideaway - the last house on the lane and the first one you’ll fall in love with. This 4-bedroom, 3-bath beauty sits on a full acre (two adjoining lots) in Cove Lake, where privacy meets personality and every upgrade’s already done for you. Let��s talk curb appeal: brand-new roof, gutters, siding, and a fresh coat of exterior paint mean she’s serving main character energy before you even walk in. Step inside to a fully updated kitchen with granite countertops, stainless steel appliances, an island with seating, and yes - your very own coffee bar for those “I’m not human until caffeine” mornings. Downstairs, you’ll find not one, but two primary suites - perfect for multi-generational living, guests who never leave, or that personal space you swore you’d create this year. Each suite offers comfort, privacy, and plenty of room to unwind. Upstairs, you’ll find the heart of the home - an open, light-filled living space with two additional bedrooms and a full bath. The flow is effortless, ideal for entertaining, working from home, or kicking back with a glass of something good. Outside? You’re surrounded by raw land and peace - no through traffic, no peeping neighbors, just crickets, stars, and maybe a goat or two in your fenced enclosure. Residents of Cove Lake enjoy lake access for fishing (which is less than 300ft away), Chesapeake Bay access with a private beach, and that tucked-away coastal vibe Southern Maryland does best. All that, and you’re still minutes from Solomons Island, with an easy commute to PAX River or D.C. If you’ve been dreaming of a home that feels like a weekend getaway but functions like real life - this is it. Stylish, private, updated, and unapologetically Southern Maryland.
Source: BRIGHT #MDCA2023580
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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.