792 Parkwood Ave, Annapolis, MD 21403
4 beds · 5 baths · 3,575 sqft
PRICE ADJUSTED! Seller has a 4.5% assumable VA loan for a qualified buyer. 792 Parkwood Avenue is a move-in ready home with water access and walkability to everything Eastport has to offer. Located at the end of a quiet street, this property is just a block to the community marina. Thoughtfully built in 2003, the home’s 9-foot ceilings bring in lots of natural light. The main level is an ideal open floor plan for easy entertaining between the living room, kitchen and dining. The living room has a wood burning fireplace and direct access to the large deck. One of the best parts of the home is the light filled office positioned on the main level at the front of the house, with lots of privacy and a Juliet balcony. There is a half bathroom and laundry room on the main level as well. Upstairs, the primary suite is lovely with its vaulted ceilings and multiple exposures getting light all through the day. The huge walk-in closet and spa like bathroom complete this private suite. The second bedroom upstairs is generously sized and overlooks the backyard with an ensuite bathroom. Bedrooms three and four also have ample closet space and share a bathroom. The fully finished walk-out lower level includes a rec room, bonus room for overflow guests, wet bar, full bath, and flexible living space—ideal for guests or multi-generational living. The large composite deck off the kitchen and living room leads down to a grassy backyard and a garden shed. In addition to having room for two cars in the garage, there is ample additional storage space. The driveway is unique in its size for this location and can easily accommodate 4+ cars. 792 Parkwood truly has the best of both worlds: just a short walk to all downtown has to offer, yet in a park-like setting with deep water dock access.
Source: BRIGHT #MDAA2109156
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #MDAA2109156
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.