844 Swift Rd, Pasadena, MD 21122
3 beds · 2 baths · 1,616 sqft
Get a free consultation call with an expert in the mortgage assumption process.
This meticulously maintained Cape Cod home sits on a .99-acre lot in a water-privileged community in Lake Shore, offering the perfect blend of convenience and tranquility. The remodeled kitchen boasts beautiful granite counters, stainless steel appliances, and Brazilian cherry wood floors, making it a true culinary haven. There’s ample parking for a boat, camper, and multiple cars, which is a huge bonus. The formal living room is accentuated by elegant colonial molding, and the first-floor primary suite is a peaceful retreat with a walk-in closet. The remodeled master bath features ceramic tile and is both stylish and functional. Step out onto the deck and enjoy serene views of nature—deer, foxes, birds, and rabbits are frequent visitors. Location-wise, the home is close to everything yet far enough removed to offer a peaceful escape from the hectic city life. If you’re a fan of nature, this is the place for you. You’ll have plenty of land to pursue gardening or other projects. Plus, you’re close to parks where you can walk, swim, play, and fish. The local businesses offer plenty of opportunities to support the community. The home has been updated with several major improvements: the basement was waterproofed with a drain and sump pump (2021), the HVAC system was updated (2019), including the oil tank (2022), and the roof (2020), vinyl siding & shutters (2022), new bay window & basement windows (2022, all other windows replaced, (2011), new water heater (2020), vinyl fence (2022), updated kitchen and baths (2005). This home truly combines modern updates with a natural, tranquil setting—an ideal retreat for those who enjoy both comfort and nature.
Source: BRIGHT #MDAA2109920
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #MDAA2109920
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 and Equal Opportunity Act.