Welcome to 12520 Donahue Road, a beautifully appointed Boone Homes residence in the highly sought-after Wyndham community Dominion Park, where thoughtful design meets elevated everyday living. From the moment you step inside, you’re greeted by rich RevWood flooring that flows seamlessly throughout the main level, setting the tone for a home that is both refined and effortlessly livable. The formal dining room makes an immediate impression with its tray ceiling, custom trim, and elegant detailing, while the spacious family room offers a warm yet sophisticated gathering space centered around a gas fireplace with marble surround. Open to the heart of the home, the kitchen is designed to impress, featuring a large center island, custom cabinetry, gas cooking, and a layout that balances function and style beautifully. Bathed in natural light, the sunroom provides a serene extension of the living space and opens directly to a private, low-maintenance patio, ideal for relaxed outdoor living or effortless entertaining. Sunny days can be shaded by retractable awning. The spacious laundry room is tucked away with cabinetry, and sink, right by the garage with custom finished floors, and fully painted and finished. The first-floor primary suite is a true retreat, complete with dual walk-in closets and a generously sized en suite bath, featuring large spa like shower, dual vanities, and private water closet, designed for comfort and ease. A well-appointed guest suite on the main level offers flexibility for visitors or multi-generational living with its own private bath with walk in shower. Upstairs, a spacious loft creates the perfect flex space for a second living area, home office, or playroom, complemented by two additional bedrooms and a shared bath. Unfinished walk in storage is easily accessible. Set within one of Glen Allen’s most established and desirable communities, this home offers a rare blend of quality craftsmanship, timeless finishes, and an unbeatable location.
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.
