7432 Race Rd Hanover, MD 21076
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About this home
Welcome to 7432 Race Road—a modern retreat built in 2022 and nestled on nearly an acre in sought-after Hanover, MD. This impressive 4-bedroom, 2.5-bath home blends luxury, comfort, and convenience with no HOA restrictions! Step inside to soaring cathedral ceilings and a stately dining room, perfect for entertaining. The open-concept kitchen is a chef’s dream, featuring gleaming quartz countertops, stainless steel appliances, a spacious island, and a large pantry. The adjoining breakfast area flows seamlessly into the family room, where a cozy gas fireplace sets the scene for relaxing evenings. Everyday living is a breeze with a main-level laundry room (washer & dryer included) that offers direct access to the oversized two-car garage and a convenient powder room for guests. Upstairs, discover four generous bedrooms and a beautifully updated hall bath. The primary suite is a true sanctuary—large enough for a king bed and a sitting area, with a walk-in closet and a spa-inspired bath. Unwind in the gorgeous soaking tub or the separate glass-enclosed shower, all accented by stunning white marble flooring and a private water closet. Enjoy the privacy and space of your nearly one-acre lot, tucked away yet just minutes from major highways for an easy commute. You’re close to everything—Maryland’s largest shopping and entertainment destination, Arundel Mills, is just down the road, offering endless dining, shopping, and fun at Live! Casino & Hotel Maryland. Outdoor lovers will appreciate nearby parks, while travelers will love the proximity to BWI Airport. Plus, you’re just a short drive to Baltimore, Annapolis, and Washington, DC. Don’t miss this rare opportunity to own a newer home with modern finishes, a flexible open layout, and unbeatable access to everything Anne Arundel County has to offer—all without the hassle of an HOA! Ready to make 7432 Race Road your new address? Schedule your private tour today!
Source: BRIGHT #MDAA2124104
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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.