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11220 Mungo Meadow Rd, Fredericksburg, VA 22407
6 beds · 5 baths · 4,994 sqft
ASSUMABLE LOAN WITH 2.375% INTEREST RATE! PRIVATE BACKYARD OASIS! Amazing opportunity to own a nearly new construction home with over $300,000 of upgrades already installed! Enjoy all the privacy Thorburn Estates has to offer on this private, 3.04 acre lot with tree-lined views. Step inside and experience the amazing attention to detail and upgrades. The main level boasts a private office with built-in shelving, formal dining room, massive living room with gas fireplace and custom paneling. The gourmet kitchen has upgraded counters, oversized cabinetry, stainless appliances, a custom backsplash, upgraded lighting and luxurious details such as the pot-filler and deep sink. The morning room bump-out offers ample natural light and additional dining space if desired. On this level you'll also find a main level bedroom and full bathroom, as well as access to the backyard and oversized 3 car garage. Head upstairs to find the massive primary suite with barn doors, massive walk-in closet, and ensuite with upgraded jetted tub and tilework. Also upstairs you'll find three more nicely sized bedrooms, a massive bonus room, two additional full bathrooms, and large laundry room with a washer and dryer that convey. The basement is the ultimate entertaining space with full wet bar, including an additional dishwasher and two wine refrigerators. On this level you'll also find a fully finished flex room, perfect for a home theater setup or gym, the final bedroom and another full bathroom. Head on back to find your own personal outdoor oasis with extensive hardscaping, pergola and gorgeous in-ground pool with tanning ledge and waterslide! The backyard is fully fenced and the property line extends well into the trees. With built-in speakers that play seamlessly inside and outside, a grill tapped directly into the gas line, and hot tub, this house is the perfect spot to host your next family get together. Low utility costs as the solar panels will be paid off at settlement! Highly desirable location close to shopping and commuting options. Home has already undergone an independent appraisal that is available to interested buyers!
Source: BRIGHT #VASP2034358
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #VASP2034358
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.
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.
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.
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