Welcome to 18255 Summit Pointe Drive — a stunning, nearly new 3-bedroom, 3.5 bathroom townhouse built in 2021 by K. Hovnanian Homes in the heart of Triangle, VA, just minutes from Quantico. Why wait for new construction when this move-in ready gem already has it all? The Longwood model offers 2,000 sq ft of thoughtfully designed living space across three levels, with modern finishes and energy-efficient features throughout. The sun-drenched main level impresses with soaring 9-foot ceilings, an open floor plan, and luxury vinyl flooring that flows seamlessly through the great room, breakfast area, and a chef-inspired kitchen. The kitchen is a true centerpiece featuring stainless steel appliances, a large island, pantry, and generous 195 sq ft of workspace, perfect for cooking and entertaining alike. Upstairs, the spacious primary suite offers a peaceful retreat with plush carpet, a walk-in closet, and a double-sink ensuite bath. Two additional bedrooms and upper-level laundry hookups round out the top floor for maximum convenience. A finished lower-level bonus room adds flexible space ideal for a home office, gym, or media room, complemented by an additional full bath. For our military community and veterans this home is a standout opportunity. Situated just minutes from Marine Corps Base Quantico, it’s perfectly positioned for active duty personnel and their families. Even better, this property features an assumable VA loan at a below-market interest rate, allowing eligible VA borrowers to take over the existing mortgage and lock in significant savings on their monthly payment compared to today’s rates. This alone could save qualifying buyers tens of thousands of dollars over the life of the loan, a rare and powerful advantage in the current rate environment. Energy-conscious buyers will also love the fully paid-off solar panels, which dramatically reduce monthly electricity costs from day one with no lease payments or liens to worry about. Combined with double-pane low-emissivity windows, blown-in insulation, programmable thermostats, and 200+ amp electrical service, this home is engineered for long-term savings inside and out. Enjoy low-maintenance community living with an HOA of just $90/month covering common area maintenance, trash, snow removal, and access to jogging paths. Offered at $600,000. Between the assumable low-rate VA loan, fully paid solar panels, and nearly new construction this home offers a combination of value and savings that’s nearly impossible to find. Schedule your tour today before it’s gone.
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.
