16817 Old Field Ln, Hughesville, MD 20637
4 beds · 3 baths · 2,625 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Ever wish you locked in your rate back in 2020? Good news—you still can (kinda). This home has an assumable FHA mortgage at just 2.25%. Serious savings. Serious opportunity. Nestled among incredible trees in a stately, secluded neighborhood, this home is a rare find. Tucked away on over six acres of wooded land, this stunning custom home offers privacy, energy efficiency, and thoughtful design at the end of a quiet cul-de-sac. Step inside to a grand two-story foyer, where rich, wide-plank hardwood floors lead the way to an inviting living room with soaring cathedral ceilings, custom woodwork, and a charming wood-burning fireplace. Natural light pours in through expansive Pella windows, creating a warm and airy atmosphere throughout. The gourmet eat-in kitchen has granite countertops, maple cabinetry, a custom-tiled backsplash, a breakfast bar, and a bright bay window that frames serene, wooded views of your backyard. Just off the kitchen, the spacious elevated deck - complete with built-in benches - is perfect for entertaining or enjoying the usable yard space. The main-level owner's suite is just what everyone wants in a bedroom. This room features a tray ceiling, countless floor to ceiling windows, a custom walk-in closet, and a spa-like ensuite bath with heated tile floors, sleek dual vanities, custom Yorktowne cherry cabinetry, and an oversized walk-in shower with dual shower heads. Another great feature of this main living area is the large laundry room with space for storage items & more! Upstairs, you'll find 2 more bedrooms and a versatile office with built-in double desks, two closets, and hidden storage behind both long walls - ideal as a playroom, additional bedroom, or a flexible workspace. Extra-thick insulated walls ensure exceptional soundproofing, while a beautifully insulated and clean crawl space adds to the home’s efficiency. A brand-new roof (2023) and geothermal heating make this home as practical as it is beautiful. Don’t miss the chance to make this one-of-a-kind property yours!
Source: BRIGHT #MDCH2040220
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #MDCH2040220
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.