PRICED BELOW ALL COMPARABLE SALES! Looking for an affordable townhouse-style condo in Alexandria, VA near DC with low condo fees and resort-style amenities? Welcome to 1431 A North Van Dorn Street in Alexandria, Virginia. A warm and beautifully updated 2-bedroom, 1.5-bath townhouse condo offering 1,060 square feet of comfortable living space designed perfectly for first-time homebuyers who want value, convenience, and lifestyle. Built in 1963 and thoughtfully updated, this home features a modernized kitchen with contemporary finishes that make cooking and entertaining feel effortless. Luxury vinyl plank flooring flows throughout, giving the space a clean, stylish, and low-maintenance feel that today’s buyers love. The open-concept living and dining area creates a bright and inviting atmosphere. Perfect for hosting friends before a night out in Old Town Alexandria or a quick commute into Washington, DC. Upstairs, two spacious bedrooms provide flexibility for a roommate, home office, or guest suite. What truly sets this home apart is the community lifestyle. Residents enjoy access to a private pool, clubhouse, and fitness center. Ideal for summer relaxation, weekend gatherings, or skipping that monthly gym membership. Assigned parking ensures convenience, and EV charging stations in the parking lot support eco-conscious living and future-forward buyers. Located in the highly desirable 22304 zip code, this home offers easy 2-minute access to I-395, Van Dorn Metro Station, Old Town Alexandria, Pentagon City, and minutes to downtown DC. Nearby parks, Holmes Run Trail for both cyclists and runners, shopping centers, and dining options make everyday living simple and enjoyable. For buyers searching for: Affordable condos near Washington DC Alexandria VA starter homes Low condo fee properties in 22304 Townhouse condos with pool and gym This home checks every box. This is not just a condo. It’s your entry into homeownership in one of Northern Virginia’s most connected and growing communities.
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.
