Gorgeous Turn-Key Dream Home located inside the premier luxury gated Fawn Lake Community of Fredericksburg, VA! Palladium windows and an arched entryway enhance the charming exterior design and curb appeal of this beautiful Residence. Inside, a welcoming Foyer opens to a flowing floorplan accented with gleaming hardwood floors, large windows offering plenty of sunlight, and beautiful architectural details throughout. The two-story Family Room features a spectacular wall of windows offering views of nature. A Formal Living Room with French Doors and a stunning stone Fireplace serves as an optional Study. The Gourmet Kitchen with beautiful Cabinetry, new Stainless Appliances, Granite counters, and a large Butler's Pantry offers ample space for preparing meals. An inviting Breakfast Nook with access to the amazing screened Porch, flows into the Family Room with a cozy gas fireplace. The elegant Dining Room with vaulted ceilings is perfect for hosting special gatherings. A spacious main level Owner's Suite with a walk-in closet and beautiful Spa Bath with large soaking tub and tile shower offers abundant comforts to unwind and relax. An additional gracious main-level Bedroom with an adjoining Full Bath offers private access to the screened porch. The Laundry Room with utility sink and plenty of storage cabinets completes the main level. The Oak staircase leads to a beautiful Bedroom en-suite with a Full Bath plus a gracious Bedroom with an adjoining Full Bath. Designed for entertaining, the finished open concept basement features a large Recreation Room with a gas fireplace anchored by built-in bookcases. The adjacent game Room with elegant wood trim makes a perfect pool lounge. A spacious Den with a private Full Bath can also function as a Guest Retreat or Home Office. An abundance of unfinished space with shelving offers plenty of storage. Enjoy outdoor living in the charming Screened Porch and maintenance-free covered porch just off the Family Room! An amazing stone Veranda provides the perfect backdrop for extended outdoor living and entertaining, while overlooking the picturesque park-like grounds. Meticulously maintained! Recent updates include: New HVAC and Furnace in 2021 & 2023, Water Heater in 2022, Kitchen Appliances in 2024, Washer & Dryer in 2023, Built-in Generator in 2020, Stone patio and fresh paint throughout in 2026! The oversized garage and storage room provide ample space for cars and equipment! The private fenced backyard, which abuts to a wooded Conservation area, is ideal for enjoying the beautiful sights and sounds of nature. Designed to maximize breathtaking outdoor scenery, the home is nestled on a .66 Acre lot with mature trees and lush landscaping. An array of flowering shrubs and ornamental trees highlight the manicured grounds. Sited in a quiet cul-de-sac within walking distance to the Fawn Lake Sports Park, where you can enjoy Pickleball, basketball, soccer and ball fields, a playground, plus a Dog Park! Hop on the walking path that leads to the pool, beach, tennis courts, and the Fawn Lake Country Club! Whether entertaining on a grand scale or enjoying quiet, everyday moments, this beautiful Home offers an incredible opportunity to embrace the magic of peaceful country life and the ultimate lifestyle at Fawn Lake! The vibrant Fawn Lake Community offers amazing amenities such as a boating recreational lake, beach, an Arnold Palmer Golf Course, tennis courts, baseball and soccer fields, volleyball courts, walking trails, Community Club House, marina, fitness center, restaurants, Country Club, playgrounds, and so much more! Plus, with an array of clubs, groups and daily activities, you will have plenty of opportunities to join the social scene, make new friends and remain active all year-round! Located in the countryside near the town of Fredericksburg, surrounded by park lands. Conveniently located to shopping, restaurants, top-rated Riverbend School District, and I-95!
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.
