Welcome to the Cambridge Crossing community. Quietly set in Frederickburg's 22405 zip code in Stafford County's Falmouth area. Located on a cul-de-sac street, this impressive brick front residence delivers over 5,400 sq ft of thoughtfully designed living space where space is the defining feature and flexibility is the benefit. Take advantage of this rare offering in this location, at this price point. Located just across from Falmouth Elementary and north of the Rappahannock River, approximately 8 minutes from I-95, 5 minutes to Route 1, downtown Fredericksburg, VRE access, and local favorites like Carl’s Ice Cream, with straightforward access to Quantico, Fort Belvoir, and the Navy Yard, this home pairs substantial living space with commuter-friendly convenience. From the moment you step into the two-story foyer, the scale of the home is unmistakable. Wide hallways and stairs, 9+ foot ceilings, and generously sized rooms create an open, airy feel that allows each space to stand on its own while still flowing seamlessly. Fresh paint, crown molding, and chair rail detailing enhance the home’s classic design without overwhelming its clean lines. The main level is designed for both everyday living and large-scale entertaining. At the center is an expansive kitchen with a walk-in pantry, bar seating, and a bright breakfast nook, offering room for multiple cooks, casual meals, and gatherings without crowding. The open layout allows for oversized furniture, multiple seating areas, and true separation of function. A flexible main-level room provides options for a home office, guest space, or playroom, adding to the home’s adaptability. The home’s distinctive center octagonal layout maximizes existing usable square footage and provides 4-5 bedrooms, 2.5 baths. Thanks to existing plumbing, there’s potential for future expansion in the basement with another bedroom and full bathroom. Upstairs, the primary suite is a true retreat, featuring a sitting area, dual walk-in closets, oversized vanities, a soaking tub, water closet, and a separate walk-in shower. Additional bedrooms are notably large, offering space for work, rest, or hobbies, and the laundry room is conveniently located on the same level. The mostly finished basement adds another layer of living area, ideal for a recreation space, home gym, media room, or multi-generational use, with ample storage and future bathroom potential already in place. Outside, the fully fenced backyard and elevated deck provide room to relax or entertain. Recent updates include a brand-new roof and oversized water heater, offering peace of mind for years to come. A two-car garage completes the home’s practical features. Homes that offer this level of square footage, flexibility, and long-term potential rarely come available. Schedule your private showing to experience the scale and possibilities firsthand. There is an assumable FHA mortgage.
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.
