A true Del Ray unicorn—this triplex sits just one block from the buzz of Mount Vernon Avenue and brings the charm, flexibility, and income potential all in one very good-looking package. Whether you’re an investor who loves strong numbers or an owner-occupant who likes the idea of someone else helping with the mortgage, this oversized corner-lot gem in Del Ray makes it easy. Live in one unit, rent the others—or lease all three and let Del Ray do what Del Ray does best. The Lineup: Unit 1 (Lower Level) 2/3 Bedrooms | 1 Bath New flooring, a beautifully updated bathroom, gas fireplace, tons of natural light, and space for days. Beautifully updated bathroom (2024). You will not be short on storage—or square footage envy. Unit 2 (Main Level) 2 Bedrooms | 1 Bath Hardwood floors, gas fireplace, generous dining room, and a super functional kitchen. The oversized porch off the dining room is basically begging for morning coffee and people-watching. Updated bath and new washer/dryer seal the deal. Unit 3 (Upper Level) 1 Bedroom | 1 Bath Adorable in all the right ways—sunlit rooms, crisp white kitchen, great closets. Small but mighty. Each unit has its own private entrance, full kitchen, in-unit washer/dryer, and separate electric meter—so everyone gets independence and you get simplicity. All are move-in ready, just in time for spring leasing season. The shared yard? Huge. Fire pit nights, grilling with friends, or just stretching out in the sunshine—it’s all fair game. One block to Mount Vernon Avenue and less than a mile to Braddock Metro, you can leave your car in the driveway and walk to dining, shopping, community events, and everything that makes Alexandria so lovable. Smart. Fun. Flexible. Exactly the kind of property that doesn’t stay quiet for long! VA Assumable loan available for eligible buyers - approx $890K balance at 2.75%!
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.
