Welcome to this beautifully maintained two-story home nestled on a private, landscaped corner lot in the desirable Watford Village section of Lee’s Hill. From the moment you arrive, you’ll appreciate the charming scenery, mature landscaping, and inviting outdoor living space designed for relaxation and entertaining. The fenced backyard features stone walking paths, a spacious patio with firepit and outdoor lighting, lush hostas, and a stunning mature Japanese maple. Step inside to an inviting hardwood foyer that opens to a formal sitting room with tons of natural light and bay window and a separate dining room adorned with elegant chair rail, custom light fixtures, and wainscoting. The bright eat-in kitchen features quartz countertops, nice center island, and a window overlooking the peaceful backyard—perfect for enjoying the view while preparing meals. Just off the kitchen, the cozy living room offers tile flooring and a charming wood-burning fireplace and vaulted ceilings, creating the perfect gathering space. Upstairs, the spacious primary suite features beautiful hardwood floors, bay window, a large walk-in closet, and a versatile sitting area with a convenient laundry closet housing the washer and dryer with built in shelving. The ensuite bath includes a relaxing soaking tub and a large tiled stall shower. Two additional bedrooms are carpeted, with the larger bedroom has an added bonus finished storage area perfect for a hideout or pet nook. Additional highlights include a two-car garage, asphalt driveway, encapsulated crawlspace, fenced back yard, and more. Conditioned Crawlspace. NEW Windows. TURN KEY!!Residents of Lee’s Hill enjoy fantastic community amenities including playgrounds, basketball courts, tennis courts, and a community pool. Don’t miss the opportunity to own this lovely home combining comfort, charm, great neighbors, and exceptional outdoor living in one of Fredericksburg’s most sought-after communities!
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.
