1142 Neptune Pl, Annapolis, MD 21409
4 beds · 2 baths · 1,537 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to 1142 Neptune Place, where charm, updates, and community all come together in one perfect package. This 3+ bedroom, 2 full bath split-level home in the heart of the Broadneck Peninsula offers a flexible layout that fits your lifestyle—whether you're working from home, need space for guests, or just want room to grow. With fresh paint throughout, new carpet on the lower level, and luxury vinyl plank flooring upstairs, this home is move-in ready from day one. Walk upstairs and you will see the light-filled family room, which is adjoins to the dining room, and updated kitchen. Walk out to the expansive deck, perfect for summer BBQs, playtime, or just relaxing under the stars. The main level offers three spacious bedrooms and a full renovated bath, while the lower level includes a bonus bedroom, full renovated bathroom with glass shower, and rear entry—ideal for in-laws, guests, or a quiet home office. Step outside to a large area for a screened porch (under the deck) and a private, fenced backyard. Located in the Broadneck school district and part of the water-privileged Atlantis neighborhood, you’ll enjoy access to the community pier on the Magothy River, nature paths, and gathering playground. All with easy access to DC/Baltimore commuter routes, downtown Annapolis, and the best of coastal living. Come see how this Neptune Place gem checks all the boxes for comfort, convenience, and community.
Source: BRIGHT #MDAA2112754
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #MDAA2112754
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.