Set on over 10 private acres in Orange County, this unique property offers a rare combination of space, flexibility, and rural functionality—ideal for equestrian use, hobby farming, or those seeking room to expand. With a fenced pasture, a well-equipped barn featuring three stalls, tack room, feed room, and office, plus multiple outbuildings, the property is already set up for a variety of agricultural and outdoor uses. The home provides a versatile layout with main-level living, including two bedrooms and a full bath, along with durable luxury vinyl plank flooring throughout much of the main level. The kitchen features light oak cabinetry, table space, and a pantry, with direct access to the rear deck. Upstairs, a private suite offers a spacious bedroom with sitting area, walk-in closet, and full bath—creating a quiet retreat separate from the main living areas. The walk-out lower level expands the home’s functionality with a recreation space, small kitchenette with sink, an additional bedroom, full bath with laundry, and access to the backyard. This level provides flexible space for guests, hobbies, or extended living arrangements. Recent updates include new vinyl siding (2026), updated windows on the main and upper levels (2021), a newer roof (approx. 5 years old), and HVAC system (2022). Additional features include front and rear decks, a run-in shed, RV power hookup, and a garage with unfinished upper-level space and bath rough-in. Located within a short drive to Orange and Gordonsville, this property offers the opportunity to enjoy peaceful country living while remaining accessible to nearby amenities. Some photos have been virtually staged to help illustrate the potential use and layout of the spaces
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.
