Gorgeous turn-key nearly new Dream Home located inside the luxury gated lake and golf community of Fawn Lake! Featuring a flowing interior accented with luxury elements designed for today's modern lifestyle. With 4800 SQ FT of exceptional interior space, this residence is designed for both casual daily living and effortless entertaining. The modern bright and open floor plan features exquisite finishes such as quartz countertops, wide plank wood floors and large windows elevating the spaces throughout the home. A charming front porch welcomes you inside to an inviting two- story Foyer, which is anchored by a Formal Dining Room, offering the perfect setting for celebrating special diners, and a handsome private Study with French doors and built-in bookcases. Flooded with brilliant sunlight, a wonderful Great Room with a stunning Fireplace and tall windows overlooking the wooded backyard sits at the heart of the home. The beautiful Gourmet Chef's Kitchen features white Cabinetry, Quartz countertops, large center island, stainless steel appliances, gas range and walk-in pantry, serving as the ideal space to cook meals and host guests for dinner. The adjoining sunny Breakfast area leads to an inviting covered porch, perfect for outdoor living and entertaining. A gracious main level Bedroom with a beautiful Full Bath and walk-in closet is perfect for guests. The spacious Mud Room with built-in drop zone helps keep things tidy and organized. Thoughtfully designed, the upstairs level offers a multi-function Flex space and bedrooms. A perfect sanctuary, the fabulous Owner's Suite with sitting area, features a luxury Spa Bath with tile shower and double vanities, plus two amazing walk-in closets! A Gracious en-suite with Private Bath, and two additional Generous Bedrooms with walk-in closets, anchored by a Full Bath with dual vanities, offer ample space for the whole family. The laundry room is conveniently located on the upper level. The finished basement features a huge Recreation Room, Full Bath, plus a ton of space for future expansion and storage! An inviting covered porch is perfect for unwinding after a long day and enjoying breathtaking sights and sounds of nature. Set against a backdrop of mature trees, the porch offers optimal space for extended outdoor living, alfresco dining, and entertaining! Nestled on a quiet cul-de-sac with beautifully landscaped grounds and manicured lawn. The 2-Car Garage and extended driveway offer plenty of space for vehicles! You will live with ease in this luxuriously beautifully designed turn-key dream home built in 2021. Don't miss this incredible opportunity to own a newer Home in one of the most prestigious addresses in the Fredericksburg area! The beautiful luxury and vibrant Fawn Lake Community offers amazing amenities such as a boating recreational lake, sandy beach, an Arnold Palmer designed Golf Course, pickleball and tennis courts, baseball and soccer fields, dog park, volleyball courts, walking trails, Community ClubHouse, 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! Located in the countryside near the town of Fredericksburg, surrounded by park lands and only a few miles to the farm market, wineries, and award winning breweries! Conveniently located to shopping, restaurants, top-rated Riverbend District schools and I-95! Discover refined living in the prestigious lake and golf community of Fawn Lake.
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.
