1404 Enfield Ave
Richmond, VA 23224
3 beds · 2 baths · 912 sqft
$249,999
Get prequalified1404 Enfield Ave
Richmond, VA 23224
3 beds · 2 baths · 912 sqft
$249,999
Get prequalifiedLocated on a quiet street just minutes from Downtown Richmond, Manchester, VCU, Brown’s Island, Shockoe Bottom, Scott’s Addition, and all the best local dining, breweries, and entertainment, this 3 bed/2 bath ranch style home offers the perfect blend of timeless charm and modern upgrades. Step onto the inviting front porch and into a bright, open-concept floor plan with newer siding, roof, doors, and more. Inside, thoughtful craftsmanship shines through in every detail—from the spacious living and dining areas to the stunning kitchen featuring shaker cabinets, granite countertops, and stainless steel appliances. Modern lighting and updated plumbing fixtures enhance the home’s fresh, contemporary vibe. Durable luxury vinyl plank flooring runs throughout the main areas, while the bathrooms are finished with elegant ceramic tile. The fully remodeled main bath includes a newer vanity, toilet, and spa-like tile tub surround for a touch of luxury. Every major system has been updated within the past 7 years excluding the HVAC system that was updated in 2022. Whether you're a first-time buyer, looking to downsize, or seeking a great rental investment, this beautiful ranch-style home is a must-see!
Source: CENTRALVIRGINIA #2510121
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.