Impeccably maintained brick-front colonial nestled on a quiet Cul de sac in the heart of Lake Ridge. This stunning home offers a unique and private nature retreat with a large, updated deck (2026) to enjoy the gorgeous backdrop of mature trees. A perfect space for outdoor entertaining or enjoying a quiet morning overlooking your lush, fully fenced backyard with playhouse/She shed. Make a smooth turn onto your newly paved driveway (2026), then a beautiful home awaits. Step up to your beautifully bricked porch and through the freshly painted front door into the foyer then you are welcomed by hard wood floors that run throughout the main level, inviting you to make yourself at home. To your right is an open, flexible living space to accommodate the needs of your family - whether that be a play space for kids, a formal sitting room, a cozy home library for reading and quiet time, or an extension of entertainment space for guests, the options are unlimited. Bridging this wonderful flex space and the kitchen is a formal dining room. In the custom kitchen you will find stainless steel appliances, recently painted cabinetry (2025), granite countertops, a butler pantry and pantry off kitchen which is sure to meet all your storage needs. The kitchen offers an open-concept floor plan which flows into a breakfast area and the cozy family room with a beautiful wood-burning fireplace with direct access to the expansive outdoor deck via sliding glass doors. This main level also includes access to the 2-car garage and half bath. Upstairs you will find a spacious primary bedroom, ensuite bath with a soaking (jetted) tub and separate shower with a large walk-in closet. Upstairs offers two additional bedrooms and a full bathroom with a tub to wind down your day. A finished walkout basement offers a unique opportunity for semi-private, multi-generational or guest quarters, including a laundry space, living room and full bathroom (2026). This lower level is another unique opportunity to create a home that fits your family's unique needs. New Roof in 2016. Conveniently located close to commuter lots, easy access to 95, 6 neighborhood pools, access to Lake Ridge Marina on Occoquan River, ample shopping and restaurant options to enjoy. Conveniently located to elementary, middle and high school.
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.
