Welcome to 2013 Mill Creek Drive in The Heart of Arlington. This beautiful, unique mid-century modern home in Mill Creek Estates is nestled among the trees, giving you the whimsical feeling of living in a treehouse. Features flexible living spaces for relaxing and entertaining. Step into the formal living room and be immersed in the outdoors, floor to ceiling windows that bring nature right to you. The charming dining room is right off of the kitchen and features a wonderful built-in China cabinet and original MCM hardware and light fixture. With two living and two dining areas, this home offers plenty of space to spread out while remaining connected. The kitchen has spacious cabinetry, a large pantry, gas cooktop, and stainless steel appliances. The kitchen opens to the breakfast nook with original light fixture and to the large den which features vaulted ceilings, a fireplace, sliding doors to a substantial patio, perfect for entertaining. The generous primary bedroom features three large windows and has an ensuite bathroom with a separate tub and shower and linen closet. The oversized walk-in primary closet is a functional space designed for optimal organization. It includes a separate smaller closet perfect for jewelry or other collections. The primary bedroom and hallway includes four additional closet spaces. The other bedrooms and the second bath are off of the family room and access to those can be closed off by an original wood pocket door. The fourth bedroom would be excellent for an additional living space, game room, theatre, office, or indoor workshop and features three closets. The abundance of custom storage space in this home makes it easy to stay organized. A new roof is coming soon and will stay true to the mid-century charm of this home. Outside the home, the charm continues. With several different spaces to enjoy on a large lot with many mature trees, there is plenty of space for entertaining, gardening, playing, or simply enjoying the outdoors.
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.
