Welcome to a home with modern livability in one of Short Pump’s most sought-after communities—Bacova! This Transitional Colonial makes a memorable first impression with its full front porch, setting the tone for what’s inside. Step through the door and you’re greeted by 9ft ceilings, rich hardwoods, & a layout designed for both everyday comfort & effortless entertaining. The heart of the home showcases a striking stone-surround gas fireplace & flows seamlessly into a thoughtfully designed kitchen. Here, you’ll find double wall ovens, a countertop range w/stainless hood, quartz countertops, subway tile backsplash, & a generously sized island with ample seating. The breakfast room offers the perfect spot to start your day, filled with natural light. The fully finished basement expands your living possibilities, offering a large recreation area, a full bath, & a flexible room ideal for a guest suite, home office, or gym. With its own private entrance plus interior access, it’s perfectly suited for multi-generational living or added privacy. Upstairs, the primary suite is a true retreat, with dual walk-in closets, a sitting area, & a well-appointed en-suite bath with a double granite vanity & walk-in shower. Practical touches continue throughout the home, including a laundry room with built-in storage and a spacious, detached 20x24 garage with overhead storage. Out back, unwind on your private patio complete with a fire pit—ideal for relaxing evenings or entertaining. Enjoy access to neighborhood amenities including walking trails, green spaces, and a community pool, all within Bacova. Minutes away, Short Pump Town Center offers premier shopping, dining, and entertainment, while everyday conveniences—from grocery stores to fitness studios—are right at your fingertips. Commuting is simple with quick access to Interstate 64 and Route 288, connecting you easily to downtown Richmond, the West End, and beyond.
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.
