24 Kimberly Cir, Elkton, MD 21921
4 beds · 4 baths · 2,048 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Gorgeous colonial in water oriented Woodcrest Shores! This home was recently renovated with hardwood floors throughout. The kitchen has white, soft close cabinets with granite counter, tile backsplash, and door to the large, rear deck. The main level had a two car attached garage that the previous owner converted to a flex room. It has a full bath, walk-in closet, and a separate entrance. This space would make a great rec room, guest suite, or the perfect in-law quarters! Upstairs has 3 bedrooms and 2 baths. The owners suite has a newly renovated bath with a tiled shower and water views from every window. The home has Anderson windows throughout. The roof and HVAC are 9 years old. Water heater is 3 years old. Basement is partially finished. Located on a very nice 1.22 acre lot! Detached 2 car garage. Shed included. Walking distance to Triton Marina and UnWined on the Water! USDA eligible area. $50 annual HOA dues. One time HOA fee of $150. HOA fees cover use and maintenance of boat ramp, playground, and common areas.
Source: BRIGHT #MDCC2016494
Source: BRIGHT #MDCC2016494
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 and Equal Opportunity Act.