2904 Shaws Rd Sparrows Point, MD 21219
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About this home
Notice! In addition to all of the other special things about this home, the Owners VA Loan is assumable at 5.75%!! This is a rare chance to own a spacious contemporary End-of-Group townhome loaded with upgrades and surrounded by natural beauty. With trees and greenery along the side and back, plus a privacy fence on one side, this home offers uncommon privacy in a townhome community. Extra guest parking nearby is another rare and valuable perk. Highlights include: 2-car garage, den/family room, and convenient main-level powder room Bright, open living/dining/kitchen area with huge island, stainless steel appliances, granite counters, warm wood floors, pendant & recessed lighting, and crown molding Corner office space and laundry room on the 2nd level – ideal for working from home Primary suite with tray ceilings, multiple windows, ceiling fan, and ensuite bath with dual vanities & stand-alone shower, walk-in closet with built in shelving. Two additional bedrooms with custom closet built-ins and ceiling fans Energy-efficient on-demand hot water heater Wired for Verizon Fios Outdoor living: Large 10x20’ Trex deck (2nd level) Covered stone patio (1st level) Community amenities including hiking trails, forested surroundings, North Point State Park nearby, multiple boat ramps, a 250-ft fishing/crabbing pier, and a pavilion with picnic & BBQ area overlooking the water. All of this is just minutes from downtown Baltimore, grocery stores, schools, and restaurants. Enjoy a water-oriented lifestyle without the maintenance of direct waterfront living!
Source: BRIGHT #MDBC2139552
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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.