Perched to capture sweeping, unobstructed western valley views, this beautifully renovated mountain retreat offers the perfect blend of privacy, flexibility, and with turnkey convenience (sold mostly furnished), it is ready to enjoy! This 3-4 bedroom (6-person septic), 3.5 bath home has been thoughtfully transformed - it underwent a major down-to-the-studs renovation in 2018, with nearly everything replaced. Walls along the view-facing side of all three levels were opened up to maximize natural light and sunset views, creating a bright, open layout that brings the outdoors in from nearly every angle, ideal for full-time living, a second home, or rental potential. The main level features high ceilings, an updated kitchen, custom beams, enhanced lighting, and a bay window addition. A gas fireplace anchors the living space, with multiple access points to expansive decks for entertaining or relaxing. A bedroom, full bath, and sunroom complete this level. Upstairs offers a large primary bedroom, second bedroom or office, and a reconfigured bath layout with a new shower and added half bath. A kitchenette area provides potential for future expansion with a water connection. The lower level offers multiple options and is currently set up as a 4th bedroom or additional living space, with an adjoining full bathroom, gym, and storage area. What truly sets this property apart is the included adjoining 3.36-acre lot, bringing the total acreage to 6.42 acres! Whether you choose to maintain it as a private buffer for added seclusion or explore the potential for a second homesite, the flexibility here is rare and valuable. Don’t wait to schedule your showing for this fully renovated, view-focused mountain escape with room to expand in the Shenandoah Valley. Upgrades list can be found in documents. *Most recent tax information is for the home on 3.06 acres, buyer to perform due diligence regarding taxes for the additional adjoining 3.36 acre lot included in sale
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.
