This property is also available for Rent or Rent To Own. SELLER SAYS MUST SELL OR RENT! Appraised on 10/29/2025 for $790,000 * ASSUMABLE LOAN with VERY low rate means much lower payments for you! Crafted for the serious horse enthusiast, this 14.01-acre property offers outstanding equine amenities: a 6-stall barn with tack room, three run-in sheds, a round pen, and three well-divided pastures with board, electric, and solar fencing. A 1,090 sq ft solar-lit barn with skylights and plywood flooring provides ample hay and equipment storage. There's also a permitted 50 Amp RV hookup for visiting guests. Riding lessons available next door. Lake Anna is just a short drive away. The 2,678 sq ft Contemporary style home features 3 bedrooms & 3.5 baths, thoughtfully updated with a new roof (2020), new HVAC and ductwork (2022), and a beautifully renovated kitchen with gas stove and all appliances conveying. A rustic 300 sq ft guest cottage—fully permitted and connected to septic in 2022—offers additional space for visitors, art or music studio, or an in-law suite. After a long day of riding, unwind by the sparkling 16×32 in-ground pool, with new pump (2025) and liner (2022), while enjoying peaceful views of the neighboring pond and countryside. 6 minutes away, you’ll find a shopping center with groceries, restaurants, and daily essentials. A nearby feed & hardware store plus a trusted local auto repair shop less than a mile down the road offer convenience and keep your farm running smoothly. Located in a beautiful part of Hanover County, you are only 25 minutes from Ashland and 35 minutes to Short Pump, this property delivers a rare blend of rural serenity, modern updates, and exceptional horse facilities. Whether you're looking to ride, relax, or simply breathe, you’ve found your place at Faithful Run in coveted Montpelier. Award winning schools! High speed internet.
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.
