ASSUMABLE VA LOAN of 3.75 %! A rare gem on a third acre lot! This beautiful 5 bedroom, 3 bath home offers the perfect balance of modern upgrades, flexible living space, and natural privacy. A breezy commute to Quantico and commuter lots to D.C. Step outside to a fenced in backyard that opens directly to a quiet forest backdrop. No rear neighbors, just peaceful views and room to breathe. An ideal setting for kids, pets, or anyone who values outdoor space with true privacy. Enjoy the evening backyard sunsets on the deck or below from the porch swing, all while listening to the frogs or catching lightning bugs. The perennial garden features peach, apple and cherry fruit trees, a blackberry and raspberry bramble, blueberry bushes, herbs like mint, rosemary, thyme, oregano, lavender and lemon balm. Beautiful flowers, and a grapevine hanging over the nestled patio overlooking the meadow. The memories made here will last a lifetime! Thoughtfully updated with all new appliances and featuring a fully finished walkout basement, this residence is designed to support everything from everyday comfort to weekend and holiday entertaining. The layout provides generous bedrooms, bright common areas, and a lower level ideal for guests, recreation, or multigenerational living. The home sits within a walker friendly, community oriented neighborhood known for its sidewalk lined streets, tree covered routes, and welcoming atmosphere. Morning jogs, evening strolls, and relaxed walks with family or pets become part of daily life here. With parks, green spaces, and a strong sense of community all around, the location delivers both convenience and connection. With its convenient location, desired school district, modern updates, functional layout, and rare wooded setting, 128 Theresa Drive stands out as a must see home that offers comfort, character, and a lifestyle that’s hard to find. OPEN HOUSE SATURDAY, March 28, 11-2pm. Offers will be presented as they are submitted.
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.
