This beautifully updated 3-level Cape Cod sits on a serene ⅓-acre cul-de-sac lot and offers an exceptional combination of charm, modern upgrades, and functional living spaces. With an oversized 20’ x 20’ detached garage/shed/workshop, a fenced backyard, and thoughtfully improved exterior features, this home stands out for both everyday living and entertaining. Inside, you’ll find inviting formal living and dining rooms with hardwood floors, a bright, updated kitchen with granite counters, a stylish backsplash, and a kitchen island with stools that convey. The main level also offers a convenient bedroom and full bath. The finished, walk-out lower level provides a spacious rec room with a floor to ceiling stone fireplace, bar area, and French doors opening to the patio and fenced backyard. A bonus den/4th bedroom, and an additional full bath make a great guest suite, while a large laundry room and excellent storage options complete this amazing home. The home has been continuously improved and meticulously maintained. Key updates and features include new privacy fencing on nearly all sides, redone deck, repaired walkway, and freshly painted foundation. Garage door repair completed. The fireplace was cleaned last year and has been unused since (wood-burning). Updated outlets and switches throughout. New upper-level bathroom. New carpeting, fresh interior paint. New water pipes, HVAC (2019), water heater (2016), and newer roof, windows, and doors. Kitchen appliances updated within 1–2 years: refrigerator, stove, and dishwasher. Microwave replaced when purchased (9/2022). Power washing scheduled to be completed. Outdoor living is a highlight, offering a spacious deck, patio, and a level, fenced backyard that backs to trees—perfect for gatherings, gardening, or simply enjoying the peaceful setting. With a blend of classic charm, meaningful updates, and a private lot in a desirable Woodbridge location, this home delivers exceptional value and move-in-ready comfort. A must-see for buyers seeking space, function, and quality craftsmanship both inside and out! INTERIOR PHOTOS WILL BE ADDED BY 12/16.
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.
