Welcome home to this move-in ready gem in the highly sought-after Placid Bay Estates—a peaceful, inviting community offering access to the Potomac River via Mattox Creek! This updated 3-bedroom, 2.5-bath home is ready for its next owner with no construction wait; just unpack and enjoy. From the moment you step inside, you’ll appreciate the fresh, modern feel with brand new carpet and luxury vinyl plank flooring throughout, along with a fully, freshly painted interior, garage, and deck (2026). Major updates give added peace of mind, including a new roof (2026), new garage door (2026), and recently replaced water heater, plus an encapsulated crawl space for efficiency and protection. The main level offers an inviting open layout which is perfect for everyday living and entertaining. The spacious kitchen flows seamlessly into a large dining area, where sliding doors lead out to the deck overlooking a fully fenced backyard. A standout feature is the shed with an insulated doggie room, a unique bonus for pet lovers. Upstairs, you’ll find all three bedrooms, including a generously sized primary suite featuring a walk-in closet and a bathroom with double vanities, soaking tub, and separate walk-in shower. Located in a quiet neighborhood, Placid Bay Estates offers a voluntary HOA that maintains and enhances community amenities including common areas, docks, and boat ramps—perfect for those who love life near the water. Enjoy the convenience of being approximately 6 miles from the Town of Colonial Beach, where you’ll find charming shops, restaurants, and waterfront activities. Commuters will appreciate easy access to Dahlgren (approx. 30 minutes), A.P. Hill (approx. 35 minutes), and nearby Maryland. Affordable, updated, and ideally located, this one checks all the boxes! Don’t miss your opportunity to call it home. Professional photos coming soon.
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.
