47 Birch Rd Earleville, MD 21919
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About this home
Price Reduced! This Home Is A MUST SEE! The Season's Are Changing And You Will LOVE Your New Home In The Fall With Spectacular Sunsets & Sunrises - Turn-Key Move In Ready! Year Round Living Or Summer Beach Retreat - Water Access, Beautiful Beach & Community Park just A Short Walk! You Can See Winter Views Of The Water & Breath Taking Sunsets From Your Back Deck! Home Was Nicely Renovated In 2017 And The Current Owner Has Improved Since With A NEW Central AC & Forced Air Heating 2022. Three Bedrooms, One Huge Bathroom with Jetted Tub And Separate Shower, Walk Into The Spacious Family Room With Vaulted Ceilings & Skylights, Step Up To A Large Bonus Room, The Beautiful Wrap Around Kitchen Has Plenty Of Cabinets, A Dining Nook And A 4 Stool Breakfast Bar Too! And 3 Nice Size Lots Give You Nearly a Quarter of an Acre of Land (Home Sits On Fee Simply Lot And Two Others Are 99 Year Lease) - Plenty of Room For Parking Your Cars, Boats, RVs, Garden, You Name It, Its All Up To You! Very Large Storage Shed Also Included! Community Features A Sandy Beach, Boat Ramp, Marina, Picnic Area, And Pavilion. Home Ownership Gets You And Your Family Access To The Park & Private Beach! Yacht Club, Marina & Pier Are Available For Membership; Fees Apply. Note; Parking Is On HOLLY STREET (Set Your GPS for 51 Holly Street, Look For The Key Sign)
Source: BRIGHT #MDCC2018852
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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.