263 Frontier Trl, Lusby, MD 20657
4 beds · 3 baths · 3,726 sqft
HUGE PRICE IMPROVEMENT! A rare gem nestled on Mill Creek, this home offers tranquility and peace 365 days a year. As you relax in the stunning all-glass four-season room, you’re treated to a breathtaking 180° view of shimmering waters. It’s easy to see why this home is called “Glistening Waters.” As you walk down the gently sloping path to your private dock, complete with a 10,000-pound boat lift, electricity, water, and a sink for cleaning your catch of fish and crabs, the waters come alive with larger fish chasing schools of baitfish. After a day of water adventures, return to the expansive wraparound deck and unwind in your brand-new, covered hot tub, which features 92 jets and dual water purification systems to minimize the use of chemicals. The newly remodeled primary suite and bath offer serene water views through sliding glass doors that open directly to the deck and hot tub. Indulge in the luxurious spa shower system, complete with a heated towel rack for the ultimate in comfort and relaxation. The spacious, custom designed, walk-in closet provides ample storage, keeping your personal items organized and easily accessible. The primary suite is located on the main level, along with a cozy guest bedroom and a convenient half bath. The open-concept kitchen enjoys waterfront views and features high-end appliances, a walk-in pantry, washer and dryer, and an unused laundry tub hookup. The kitchen seamlessly flows into the living room, which is anchored by a gas fireplace, as is the primary bedroom, creating a warm, inviting atmosphere. Downstairs, you’ll find two additional bedrooms, a full bath, and a kitchenette with another washer and dryer, a refrigerator, and ample cabinet space. The large living area offers plenty of space to relax or entertain. With three extra closets and a sizable workshop, the lower level of this nearly 4,000-square-foot home provides ample room for all your needs. A beautiful pellet stove heats the home, supplemented by central air and heat. Sliding glass doors lead to your private natural backyard, complete with a fire pit. Follow the deck path to extended seating areas, a stone dry river , and a charming wooden bridge. There are multiple spots to tie up a kayak, offering alternative water access if you prefer not to use the boat lift. The oversized two-car garage with extensive attic space provides plenty of storage and room for another workshop. Location is key, and this home delivers. Situated closer to the water than neighboring properties, it offers exceptional privacy. You’re just 5 minutes from museums and Solomons Island, and less than an hour’s drive to Washington, D.C. The home is also close to the Pax River Naval Base, offering easy access for those working in or near the base. Enjoy the best of both worlds: the peace and seclusion of a quiet dead-end street with only a few homes, while still having easy access to all the amenities of the Chesapeake Ranch Estates. Whether by boat or car, you’re only minutes away from Solomons, the beaches, and the Chesapeake Bay. Call me today to schedule your private tour!
Source: BRIGHT #MDCA2019468
Financials
Source: BRIGHT #MDCA2019468
Source: Public records
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%. 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.
Other resourcesWhat 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.