55 Marian Dr Port Deposit, MD 21904
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About this home
Welcome to 55 Marian Drive in the exceptional community of Hopewell Ridge. Gtreat price on a beautiful 3500 square foot custom home in a small rural enclave a short distance from the Exit 93 interchange of I-95. Almost a full acre of land surrounds this gem. Pull up the long private driveway and enjoy the relaxed country setting. Stone front colonial with a concrete wraparound covered porch. Side entry garage, rear covered deck with stairs to the yard and plenty of room to play. Inside the front door, you are are greeted by a 2 story foyer and wide staircase. Hardwoods, ceramic floors, tray ceilings, chair and crown moldings and custom trim throughout. Main level has a vaulted family room with gas fireplace and stone mantel. Large island kitchen with quality soft close cabinets, granite counters and stainless steel appliances. 9 ft ceilings on all levels. Formal dining room, formal living room, breakfast area, office or den and a well lit south side sun room. Upstairs you find an extra wide landing leading to a vaulted primary suite with a large bonus room. Primary bath has a double granite vanity, jet tub and separate shower. 3 additional bedrooms and a second full bath. All bedrooms equipped with ceiling fans. In the lower level, a clean unfinished area of approximately 1700 additional square feet. Features a level sliding door walk out, a whole row of windows waiting to be finished, roughed in plumbing for 3rd bath, Low utility bills with American Sentry Solar panels. Updated hybrid HVAC and on demand gas water heater. Low taxes and low HOA. This home is close to I-95, schools, shopping, APG, Marc and Amtrak trains.Only 1 hour to Philadelphia International or BWI airports.
Source: BRIGHT #MDCC2019072
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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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