Welcome to your new permanent cabin retreat! Located in the heart of historic Spotsylvania County, in a rural backdrop but just moments from town and historic downtown Fredericksburg. As you pull into the drive, thickly lined with lush greenery and towering trees, you already feel miles away from civilization. The trees clear a bit and you catch sight of a home that gives the feel of a mountain lodge that sits in the middle of the lot on top of a gentle slope. The open area offers more than enough space for children to play, pets to roam and gatherings – all surrounded by lush greenery that offers complete privacy from the world around you! The property features just over 5 acres of mature trees, wild blackberries, abundant clover and Black Meadow Creek runs around the front portion of the property and flows over a pair of massive twin trees and creates a miniature waterfall at the front corner of the property. There’s a large wooden shed with built-in shelves all the way around, a lofted storage area, lights, outlets and a covered lean-to for your outdoor equipment. A large metal shed that was added in April. A large walk-in greenhouse with a stone paver floor that was added in 2023. A massive treehouse that was added in 2018, it has a 2- sided deck, a small window in front and the 3 walls on sides and back lift open for a 360 view. The backyard was fenced in 2013 and offers an acre of space for pets and children to play safely. Inside the fenced area is a very large playground that was added in 2022 and a chicken house with a run that was added in 2016. The property also has grapevines, a small peach tree and an apple tree – none are producing yet but are thriving. Theres a nice big area for gardening by the gate on the side of the fence and a dual compost bin that will stay with the home. You will also notice a very large, 45 panel solar array, that part of the lot was cleared in 2023 and the panels were added in 2024 and supply over 100% of the homes power and Rappahannock Electric pays for the excess (more details upon request).The property features just over 5 acres of mature trees, wild blackberries, abundant clover and Black Meadow Creek runs around the front portion of the property and flows over a pair of massive twin trees and creates a miniature waterfall at the front corner of the property.A colored, stamped concrete walkway and new set of front steps with solar light caps was added in 2022 and a beautiful Dappled Willow stands just by the walkway. There are 3 Arlo security flood lights hardwired in to the home and a Tesla car charger was just installed in April. The red roof and gutter guards were put on in 2024 and come with a 20-year warranty. The extensive wrap around porch covers 3 sides of the home, includes brand new balusters that were installed in May and has a gate at the front stairs, this is the perfect place for a row of rockers and offers plenty of space for barbequing and family gatherings. The beautiful front door by Anderson was just added in April and the glass offers plenty of natural light while also offering privacy. Much More...Come see you little slice of paradise.
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
