Welcome home to 13351 Pelican Road! This charming and efficient 4 bedroom, 2.5 bath colonial is clean and ready for you. The interior is freshly painted throughout with brand new carpets and tasteful updates. Major systems have been updated including the Carrier HVAC system with humidifier (2018), windows, doors, and gutters. Conveniently located in the heart of Dale City with no HOA and equipped with Sunrun solar panels to maximize efficiency and minimize utility costs. This well-maintained home offers a functional layout with large, comfortable living spaces with hardwood floors throughout the main level. There is a formal living room, dining room, and eat-in kitchen area connected to another living room area. Cozy up to the fireplace during the winter months. Upstairs you'll find three well-appointed bedrooms, hall bath, and laundry area with custom shelving and newer LG front loading washer/dryer. The primary suite spans the full width of the house and features a walk in closet and private full bathroom. The unfinished basement provides excellent potential for future living space. It already has a rough-in for a bathroom and a walk out exit to the back yard, built in storage shelves and a work bench. Enjoy the seasons and sunsets while rocking on the spacious front porch. Entertain guests on the rear deck overlooking the fenced in back yard, providing privacy and safety for pets and play time. Centrally located with easy access to 95 and 66 making it an easy commute to DC, Quantico, and Fort Belvoir. With recent updates, generous living spaces, and room to grow, this turnkey home is ready for its next owner.
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.
