**$50,000 PRICE REDUCTION** *BEAUTIFUL HOME, FANTASTIC LOCATION* This Amazing Gem is Move-In Ready and Perfectly Situated for All Things Reston and Metro DC. If you Love to Entertain or your family is Multi-Generational, look no further! This home features Four Large Gathering Rooms and a Bedroom Suite on the Main Level! MAIN LEVEL- Inside the Front Door is the Greeting Foyer. To the Left is the stairs to the Upstairs Bedrooms. Straight Ahead is the Powder Room, Open Concept Kitchen, Dining Area, Family Room and Sunroom. To the Right is the Extra-Large Living Room. Sleek Hardwood Floors Throughout. On the other end of the living room is the Spacious Main Level Bedroom Suite, which features its Own Full Bathroom. The Kitchen is Fully Upgraded with Loads of Gorgeous Counter Tops, Stainless Steel Appliances, Recessed Lighting, as well as an Abundance of Cabinet Space and Easy Access to Everywhere Your Guests are Congregating. Just to the Left of the Kitchen is the Oversized Sunroom. It Features Hardwood Floors, Hardwood Tongue and Groove Ceiling, Palladian Windows, Several Full Wall Windows and a Skylight to make your morning coffee memorable year after year. There is also a Sliding Glass Door to access the 680 sqft Deck and Patio that Backs to the Wooded HOA Owned Nature Reserve. Finishing up the Main Level is a Family Room with Berber Carpet and Wood Burning Fireplace, a Large Mud or Craft Room and Access to the 420 sqft 2 Car Garage. The Garage has 2 Huge Storage Closets, Wooden Work Benches and Shelving that Convey. Roof was new in 2017. UPPER LEVEL- Features 3 Spacious Bedrooms and 3 Full Bathrooms. The Primary Suite has 2 Full Bathrooms! One with Jetted Tub, one with convenient shower stall, and a Full Dressing Room with Built-In Shelving and a Tongue and Groove Hardwood Ceiling. LOWER LEVEL - Features a Large Rec Room with Built-In Shelving. A Utility/Laundry Room with Deep Sink, Washer/Dryer that convey and Plenty of Storage. A Bonus Room that could be an Office or NTC Bedroom (Window isn't large enough for egress) Which also has a Very Large Closet or Storage Room. Also Installed is an Active Radon Remediation System for your Health and Safety. AMENITIES -Walking Distance to Sunrise Valley Elementary, Pools, Pickleball Courts, Playgrounds, and Hiking/Biking/Bridle Trails. Being a member of Reston Association means Access to 15 Pools, Miles of Scenic Trails, Beautiful Lakes, Pickleball and Tennis Courts, as well as a Exciting Calendar of Community Events such as Concerts, and Gatherings....all free with your HOA Dues (see HOA Website listed above). Also, South Lakes Village Center is very close with conveniences like Starbucks, Safeway, CVS, and Popular Local Dining Spots. Minutes to Reston Station with Metro Access, Dining, and Fitness, and Reston Town Center which offers: Restaurants, Premier Shopping, Concerts, Seasonal Ice Skating, and Other Community Events. Commuting is a breeze Dulles International Airport and Downtown Vienna are just minutes away.
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.
