This beautiful Cottage Dream Home is located inside the luxurious, gated lake and golf community of Fawn Lake in Fredericksburg. Featuring an ideal open concept floor plan crafted with luxury elements designed for today's modern lifestyle. This like-new Chesapeake model from Atlantic Builders with 2585 SQ FT of exceptional interior space is designed for easy casual living and effortless entertaining . A charming front porch welcomes you inside to a Foyer that is anchored by a Formal Dining Room, and a sunny Private Study . A beautiful Family Room with a Modern Fireplace opens to the Gourmet Kitchen with a massive island, soft-close white cabinetry, Granite countertops, ceramic tile backsplash, stainless steel appliances, and a large walk-in pantry. The adjoining Breakfast Room flooded with brilliant sunlight, offers access to the rear stone patio. The spacious main floor Primary Bedroom with a soaring trey ceiling, offers oversized windows, large walk-in closet, and a beautiful Spa Bath with dual vanities, soaking tub and a spacious tile shower. Two additional Bedrooms anchored by a Full bath offer plenty of room for comfort. A large Laundry room and Half Bath complete the main level. The beautifully landscaped flat yard adds to the charm of this Modern Ranch Home. A large paver stone patio in the backyard is perfect for alfresco dining and entertaining. The side loading two- car garage, and extended concrete driveway provide plenty of parking space. This turn-key Dream Home is located in a super charming and established area of Fawn Lake featuring manicured lawns, quaint parks and sidewalks for enjoying daily walks, meeting friends and taking in the beautiful sights and sounds of nature. Come experience the Fawn Lake Lifestyle and start enjoying our unique way of life! The beautiful Luxury gated Fawn Lake Community offers amazing amenities such as a private 288-acre boating recreational lake, an Arnold Palmer designed Golf Course, beach, tennis, pickleball, baseball and soccer fields, dog park, volleyball courts, walking trails, Community Club House, marina, fitness center, restaurants, Country Club, playgrounds, and so much more! Located in the countryside near Fredericksburg, Virginia surrounded by parklands 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!
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.
