56 Cross Point Dr Owings, MD 20736
Your savings
About this home
This one has a ASSUMABLE VA LOAN available at 2.25% interest rate! THATS A HUGE SAVINGS ON YOUR MONTHLY PAYMENT!! IF PURCHASING A HOME THAT IS TRULY MOVE-IN READY, peace of mind that you won’t move in and have to start doing a bunch of repairs is on your list, THIS ONE CHECK ALL OF THE BOXES!! The owners have done all of the updating on this one so you can have peace of mind in your new home! New windows in 2016, new A/C on main level and upper level in 2019, basement renovated to include a second kitchen in 2019, new roof in 2017, back deck redone in 2021, fireplace on main level 2020, massive primary bath renovation in 2023 ($30,000 renovation!!)!Pride of ownership is evident in this exquisite 5-bedroom, 3.5-bath residence, perfectly situated in the highly sought-after community of Cross Point. With its timeless design, fresh paint, carpet and thoughtful upgrades throughout, and unmatched attention to detail, this home offers both elegance and comfort at every turn. From the moment you arrive, the inviting wrap-around porch sets the tone for gracious living. Step inside to discover refined finishes throughout—crown molding, wainscoting, and a stunning gas fireplace create a warm yet sophisticated atmosphere. The main level boasts a beautifully renovated kitchen featuring granite countertops, soft-close cabinetry, and premium fixtures, designed for both everyday living and entertaining in style. The upper level offers 4 generously sized bedrooms and spa-inspired renovated bathrooms, providing a serene retreat for family and guests alike. The fully finished lower level with a second full kitchen adds incredible versatility, ideal for extended stays, multi-generational living, or hosting with ease. Step outside to a true entertainer’s paradise—a spacious deck with a charming gazebo, the perfect backdrop for gatherings, al fresco dining, or simply enjoying peaceful evenings outdoors. Don’t miss your opportunity to own this extraordinary home where modern updates meet timeless craftsmanship in one of the area’s most desirable communities.
Source: BRIGHT #MDCA2023062
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
If you find a better price on any home, we’ll match it.
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.