BRING YOUR CHICKENS!!! Nestled on a sprawling 14.22-acre lot, this charming Cape Cod-style home, boasting nearly 3000 sq ft of thoughtfully designed living space, offers a perfect blend of comfort and functionality, ideal for those seeking a serene retreat with equestrian amenities. Step inside to discover a warm and welcoming atmosphere, highlighted by a cozy fireplace adorned with glass doors, creating an inviting focal point for gatherings. The country-style kitchen is a chef's delight, featuring upgraded countertops and essential appliances, including a built-in microwave, dishwasher, and stove. With three spacious bedrooms and four bathrooms (two full and two half), this home ensures comfort and convenience for everyone. The primary bath offers a tranquil retreat, while ceiling fans throughout the home provide a refreshing breeze on warm days. For horse enthusiasts, this property is a dream come true. With horses allowed and a paddock ready for your equine companions, you can enjoy the joys of horse ownership right at home. The expansive outdoor space is perfect for riding, training, or simply enjoying the beauty of nature. The picturesque views of trees and woods create a serene backdrop, enhancing the peaceful ambiance of this property. Located near a tranquil pond, you can unwind and appreciate the beauty of your surroundings. Parking is a breeze with a detached garage that offers additional storage space, along with a generous driveway accommodating up to ten vehicles. This home is not just a residence; it's a lifestyle. Experience the perfect blend of comfort, functionality, and equestrian amenities in a setting that feels like a private sanctuary while still being in close proximity to all of what both Fredericksburg and Stafford have to offer. Whether you're looking to relax in front of the fireplace, explore the vast outdoor space, or enjoy the company of your horses, this property is ready to welcome you home.
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.
