1231 Mount Pleasant Dr, Annapolis, MD 21409
4 beds · 2 baths · 1,092 sqft
*****Please have all offers in by Sunday 3/30 by 9:00PM. Thank you!!!****** Total square feet is over 1800 sq ft!!!! Stunning Home in an Amenity-Rich Cape St. Claire ! Nestled in a highly desirable amenity-rich Cape St. Claire with beaches, a boat ramp, and endless recreational opportunities, this beautiful home offers the perfect blend of comfort and coastal charm. Step inside to discover gleaming hardwood floors throughout. The kitchen features granite countertops, stainless steel appliances, and ample cabinetry—perfect for entertaining and everyday living. 3 Bedrooms up stairs The primary bedroom has a bump out/addition adding a primary walk in closet. This bump out is on both levels of the home adding an additional work shop on the lower level with an outside and inside entrance. The lower level offers a large rec room complete with a fire place and an additional bedroom/gym or office. One of the home’s standout features is the expansive screened-in room, providing the ideal spot to relax and enjoy the outdoors in comfort, whether you’re sipping your morning coffee or hosting a summer gathering. Situated on a spacious lot, this property offers plenty of room to roam, along with a large driveway providing ample parking for guests, boats, or recreational vehicles. Enjoy the best of waterfront community living with access to multiple beaches, a private boat ramp, and fantastic neighborhood amenities. This is the home you’ve been waiting for—schedule your tour today!
Source: BRIGHT #MDAA2103556
Source: BRIGHT #MDAA2103556
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.