Perfectly situated on over an acre in a peaceful Centreville setting, this expansive custom-built home offers more than 4,000 square feet of beautifully designed living space across three finished levels, combining comfort, functionality, and exceptional value. The main level is ideal for both everyday living and entertaining, featuring a formal dining room and a gourmet kitchen with center island, dual wall ovens, induction cooktop, walk-in pantry, and sunlit breakfast nook. Just off the kitchen, the inviting family room includes a pellet stove, wet bar, and oversized sliding doors that open to a screened-in porch and spacious deck, creating seamless indoor-outdoor living. Upstairs, the oversized primary suite serves as a private retreat, complete with a propane fireplace, dual walk-in closets, and a spa-inspired bathroom featuring a jacuzzi soaking tub and rainfall shower. This level also includes two additional bedrooms, a large bonus room with pellet stove, a full bathroom, and a conveniently located laundry room. The third floor offers two additional versatile bedrooms and another full bathroom, perfect for guests, home offices, or hobby spaces. Outside, the property truly shines. Enjoy a fully fenced yard on over an acre, an oversized attached two-car garage, a detached two-car garage/workshop, storage shed, and a partial whole-house generator. With no HOA, you have the freedom to fully enjoy the property while still being just minutes from downtown Centreville, local shops and dining, Route 301, and only 13 miles from the Bay Bridge for an easy commute. A solar energy system is installed on the home, helping offset utility costs. Buyer to assume the remaining solar loan balance. This exceptional property offers size, privacy, and versatility rarely found at this price point in Centreville.
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.
