201 Edgewater Dr, Edgewater, MD 21037
5 beds · 5 baths · 2,642 sqft
Breathtaking views from every room! This property's unique location on the South River allows for both stunning sunrises and awe-inspiring sunsets. The main house features 4 bedrooms and 3 full baths. The guest house offers a 5th bedroom and 1.5 baths . In the main house, a beautiful sunroom spans the entire rear of the house with walls of windows that allows for plenty of natural light and peaceful water views. The gourmet kitchen with a separate prep area, breakfast bar and gas cooktop is perfect for the chef in anyone! A separate dining room just off of the sun room is a great place for year round entertaining letting the outdoors in. Extensive water views and walls of windows highlight the primary suite with sitting area and spa like primary bath with soaking tub, separate walk-in shower and walk-in closet, The guest apartment features a bedroom, full bath, kitchenette, great room, bamboo flooring and water side balcony. On the main level of the guest house is an office with stone tile flooring, kitchenette, built-in cabinets, half bath , walls of windows and a paver patio to take in the view! The detached 2-car garage offers 2 openers and workshop area with 3 work benches and extensive shelving. This is the perfect opportunity for the garden lover in you with raised beds and a lawn sprinkler system for lawn irrigation and the watering of all of the beds. The 170' pier is 10' wide and features water, electric, 6 slips, 3 electric lifts and a water depth of 10'+. A screened gazebo sits just off the 51'x17' shore deck by the water's edge and storage shed to store all of your outdoor needs. The 36'x4' finger pier is an added bonus! Enjoy your morning coffee or an evening of relaxation on the multi-level decking off of the sunroom overlooking the 120' of waterfrontage. This once in a lifetime waterfront opportunity offers everything you could possibly want.
Source: BRIGHT #MDAA2109270
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
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If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
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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 #MDAA2109270
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.