8241 Saint Francis Dr Severn, MD 21144
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About this home
Welcome to 8241 Saint Francis Drive, a beautifully designed home offering five bedrooms, four and a half bathrooms, and exceptional living space across three finished levels. With over 7,000 square feet of thoughtfully crafted interiors and a spacious, flat backyard, this property delivers both elegance and functionality. The property also comes with a solar panel array that is owned free & clear. Step inside and you’ll find hardwood floors flowing throughout the main level. The open floor plan highlights coffered ceilings, a spacious family room, an office, a dining room, and a gourmet kitchen complete with high-end appliances, custom cabinetry, granite countertops, and a breakfast area overlooking the yard. The seamless connection between the kitchen, dining, and living spaces makes this level ideal for everyday living and entertaining. Upstairs, all five bedrooms are conveniently located on the same floor—an uncommon feature in the neighborhood. The expansive primary suite offers a private retreat with a separate seating area and a spa-like en-suite bathroom, dual vanities, soaking tub, and walk-in shower. Four additional bedrooms and multiple full baths ensure comfort and convenience for everyone. The finished lower level expands the home’s versatility, featuring a wet bar, full bathroom, and wide-open recreation areas perfect for entertaining, a media room, or a home gym. This level also offers plenty of storage space and walk-up access to the backyard. Outdoors, the flat backyard provides a blank canvas for outdoor activities, gardening, or future enhancements such as a patio or deck. The property’s lot size and layout make it easy to enjoy both relaxation and recreation. Located in Severn, this home is minutes from shopping, dining, commuter routes, and nearby schools. With its blend of classic details and modern updates, 8241 Saint Francis Drive is ready to welcome its next owner.
Source: BRIGHT #MDAA2127524
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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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