Welcome home to this luxurious, energy certified and beautifully well maintained, spacious 3 Bedrooms, 3 and half bathrooms end-unit townhome in the sought after Summerfield community. From the moment you step inside, you’ll know this is the one! Gleaming hardwood floors in the entire house. The main level offers a huge rec room, full bath and a wet bar with a wine refrigerator. The rec room area leads to a huge/extended lot with extended fenced backyard and a gorgeously built composite deck with a gazebo and a fire pit. The second level living area is open-concept kitchen placed in the heart of the center of the home, which leads to a cozy fireplace with direct access to the romeo/juliet deck, an ideal space for gathering/entertaining. The chef's kitchen offers an island, stainless steel appliances, gas cooking/cooktop, double wall ovens and beautiful granite counter space. The third level welcomes you to a luxurious ensuite owner's retreat - a huge primary bedroom with sitting area, walk-in closet, dual vanities and a tub. There are two generous bedrooms on this level with a full hall way bath. This magnificent home has an upgraded bump outs, extensions, high end details giving you lavish luxury while wrapping you and your loved ones with the security and privacy of a fenced in yard. The home has been freshly painted, vents cleaned and power washed. Amazing community amenities including 2 acre park, walking trails, soccer field and more. Ton of parking space for guests. Enjoy the ease of location and access to so many local amenities as well as outdoor recreational activities. UNIQUE FEATURES compare to other homes in the community: Two decks, Fire place, Brick Front of house, Extended/Huge Fenced yard/deck, End unit, Gazebo fire with pit, wet bar with wine refrigerator, wood flooring throughout, crown molding, shutters. Summerfield at Fredericksburg is one of the newest planned communities in the Fredericksburg area with a ton more growth taking place. You will be conveniently located close to Route 1 and I-95, historic downtown Fredericksburg, schools, shopping, and the VCR Trail. Schedule a showing today.
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.
