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169 Bicycle Rd

Keokee, VA 24265

3 beds · 1 baths · 1,300 sqft

$119,945

$442/mo with 4.88% Express Financing

$487/mo with 7% bank financing

Get prequalified

About this home

Where peace & quite meets space with a HUGE oversized workshop garage. Granite counter tops, multiple outdoor sheds, and trails. You're going to want to check out this property!

Source: CENTRALVIRGINIA #2518188

1,300 sqft
0.4323 acres
Single Family
Built in 1950
2 car garage
Air conditioning

Seller's estimated current equity is SIGNIN
To assume this mortgage you must cover the seller's equity by using your cash or by combining your cash with gap financing.
Estimated $487 monthly payment

Financed
SIGNIN

Payment details
Principal & interest
$299
Mortgage insurance
$40
Property taxes
$61
Home insurance
$40
HOA fees
-
Utilities
Not included
Total monthly payment
$442

Loan details
Loan type
FHA
Remaining balance
$39,424.04
Remaining term
15 yrs and 9 mos

Neighborhood

FAQs

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.

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Last updated: Jul 18, 2025 05:55 pm
Listing provided courtesy of: Long & Foster REALTORS (804) 288-8888
Details provided by CENTRALVIRGINIA and may not match the public record.
MLS ID: #2518188
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are Copyright © 2025 Central Virginia Regional Multiple Listing Service, LLC. All Rights Reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.

Keokee, VA 24265

3 beds · 1 baths · 1,300 sqft

$119,945

$442/mo with 4.88% Express Financing

$487/mo with 7% bank financing

Get prequalified