6625 Melrose Ave Elkridge, MD 21075
Your savings
About this home
Motivated Sellers!! Massive Price Reduction of $25,000! Nestled in the charming Harwood Park neighborhood, this exquisite Cape Cod-style residence exudes warmth and sophistication, offering a perfect blend of classic charm and modern convenience. Built in 1959, this meticulously maintained home boasts over 2000 finished square feet of thoughtfully designed living space, ideal for those seeking a tranquil retreat. Step inside to discover a welcoming interior that features built-ins and a traditional floor plan, seamlessly connecting the cozy dining area with the country-style kitchen. The kitchen is a culinary enthusiast's dream, equipped with high-end appliances including a gas oven/range, dishwasher, and refrigerator, all designed to elevate your cooking experience. The inviting table space in the kitchen is perfect for casual meals or morning coffee, while the entry-level bedroom provides flexibility for guests or a home office. The home offers two full bathrooms, thoughtfully designed to provide comfort and privacy. The full basement, complete with a rear entrance and walkout stairs, presents endless possibilities for customization, whether you envision a recreation room, workshop, or additional storage. Outside, the property is graced with a premium corner lot, surrounded by mature trees that create a serene and private atmosphere. The exterior features include tasteful lighting that enhances the home's curb appeal, while the expansive deck invites you to enjoy outdoor gatherings or quiet evenings under the stars. With off-street parking for up to four vehicles, convenience is at your fingertips. The lush wooded views from the property provide a picturesque backdrop, allowing you to immerse yourself in nature while still being close to urban amenities. This residence is not just a house; it's a lifestyle. Experience the perfect blend of comfort, elegance, and tranquility in a community that values both privacy and connection. Whether you're entertaining friends or enjoying a quiet evening at home, this property offers a unique opportunity to create lasting memories in a truly special setting. Why settle for a townhome when you can have a single family home with no HOA fees, parking for 4+ vehicles!
Source: BRIGHT #MDHW2060146
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.