Welcome to life in Westlake Heights - where modern convenience meets a tucked-away, community setting. Built in 2022, this 2,176 square foot home offers the ease of newer construction while remaining connected to the city you love. Arriving, you’re greeted by clean architectural lines & a welcoming front porch. Inside, a bright and open floor plan creates effortless flow. The kitchen blends style and function with stainless appliances, gas cooking, quartz counters, & a pantry. It opens seamlessly to the family room and dining area, where plentiful windows and a gas fireplace create a comfortable atmosphere. A first-floor bonus room with french doors offers flex space for a home office, playroom, or second living area. Upstairs, the primary suite is a true retreat, featuring a tray ceiling, large walk-in closet, and an en-suite bath with double vanity, tiled shower, & water closet. Two additional bedrooms feature ample closet space. A dedicated laundry room with utility sink adds everyday ease. The upstairs is rounded out by a loft that has the ability to be converted into a fourth bedroom. Step outside to a rear paver patio, your peaceful backdrop for entertaining. This lot backs to HOA-owned woods, ensuring your wooded view remains protected. A two-car garage offers excellent storage for vehicles, bikes, & more. Life in Westlake Heights extends beyond your front door. The HOA includes comprehensive landscaping services so weekends stay open for what matters most. Community amenities include a playground, dog park, & fire pit, along with direct access to Powhite Park’s trails, making nature part of your daily routine. Ideally located near the growing Forest Hill corridor, you’re just minutes from local favorites like The Veil & Janet’s, plus nearby grocery & Chippenham Hospital. With all major systems from 2022, energy-efficient design, & a special financing opportunity [$5K grant, no mortgage insurance, & no down payment], this home delivers modern, low-maintenance living in an ideal Richmond location.
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.
