Bring your kayak and paddle to the Potomac River from your 100 feet of waterfront along Neabsco Creek! Imagine owning your own PIECE OF PARADISE, so close to amenities yet nestled in a peaceful, park-like setting. This 1.16 ACRE beauty will bless you with WATER VIEWS and a copious amount of space to relax and enjoy all this UNIQUE PROPERTY offers. Ideally situated on one of the BEST STREETS in Dawson Landing with a completely RENOVATED KITCHEN, luxurious en-suite bathroom and HARDWOOD FLOORS throughout. You must see the kitchen - HIGH-END CABINETRY, beautiful QUARTZ COUNTERS, slate-finish appliances and OVERSIZED ISLAND - one of the best in the neighborhood! Enjoy stunning views of NEABSCO CREEK from your wall of windows in the peaceful sunroom. Watch the BALD EAGLES fly from your SCREENED DECK. The Patterson was one of the FINEST and LARGEST models built in Dawson Landing with a grand TWO STORY FOYER, two-story VAULTED CEILING in the oversized family room and spacious MAIN FLOOR LAUNDRY room with utility sink. Hardwood floors throughout the open floorplan seamlessly connect the gourmet kitchen to the family room - perfect for entertaining and enjoying your PARK-LIKE water views. And, if that's not enough, this gem has a NEW HOT WATER HEATER, in-ground irrigation system, GAF ROOF, two-zone HVAC system, walk-out basement and ceiling fans in all bedrooms. Walk to RIPPON VRE TRAIN station - five minute drive to WEGMANS, APPLE STORE, STARBUCKS, ALAMO THEATER, restaurants and shopping. Close to MARINAS, Leesylvania Park and the NEABSCO CREEK BOARDWALK. Homes like this are RARE IN WOODBRIDGE. So, MOVE FAST to snag your own piece of paradise.
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.
