Cul-de-Sac setting. Walk to the Potomac River. Colonial in Newport Estates with room to build equity. If you’ve been searching for space, location, and long-term upside, this Newport Estates Colonial checks the boxes that matter. Set on a quiet cul-de-sac in sought-after Newport Estates, this 4-bedroom, 2.5 bath home offers the layout buyers love and the opportunity smart buyers look for. Just a short walk to the Potomac River and Leesylvania State Park, your weekends can include hiking trails, waterfront views, boat launches, and sunset strolls. A location like this protects value and enhances lifestyle. Recent updates include new carpet on the upper level, fresh interior paint throughout, and a deck that will be newly stained prior to closing. The main level features hardwood floors and a traditional Colonial floor plan with defined living and dining spaces that flow naturally into the kitchen and rear gathering area. Large glass doors line the back of the home, bringing in abundant natural light and connecting you to the expansive deck overlooking mature trees. It is a rare, private backdrop that feels miles from the noise of daily life. The kitchen offers white cabinetry, stainless steel appliances, and a solid workspace. It is functional today and ready for updates tomorrow. Instead of paying a premium for someone else’s renovations, you can design upgrades that reflect your style and increase your home's equity. Upstairs, the carpeted bedrooms provide flexibility for family, guests, or home office needs. The 2.5 bath layout supports busy mornings and daily routines with ease. The walkout basement adds significant potential. Create a recreation room, gym, guest suite, or income-producing space. With direct backyard access, it extends your usable square footage and future value. Enjoy added privacy with wooded views behind the home, plus a backyard hot tub that’s just 3 years old and a convenient storage shed for tools or seasonal items. A 2-car garage, established neighborhood, cul-de-sac privacy, and walkability to the Potomac River make this property a strategic buy in Newport Estates. If you are looking for a Colonial with solid structure, strong location fundamentals, and room to customize, this is your chance. See how this home can work for your vision.
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.
