Timeless brick and slate home overlooking the western edge of fabulous Bryan Park! Built in 1942, this classic Colonial has been thoughtfully updated and meticulously maintained by its current owners. No detail has been missed! The welcoming front door opens to an oversized yet comfortable living room featuring a wood-burning fireplace and access to a bright and sunny office or playroom. The formal dining room is perfectly sized for gatherings and sits adjacent to a warm and inviting kitchen. A convenient side entrance off the paved driveway provides the ideal everyday drop zone for backpacks, groceries, and muddy shoes. Upstairs, gleaming hardwood floors lead to a primary bedroom with its own private bath, along with two additional bedrooms and a hall bath. The third floor is a cozy and flexible hideaway—currently pulling double duty as both a bedroom and home office and doing it beautifully. Need even more space? The completely dry basement offers extra living or recreation space with yet another fireplace, along with a dedicated laundry area and room for a workshop. Outside, the terraced backyard is a fun spot for relaxing or entertaining, with seasonal plantings that are ready to pop! Just across the street is Bryan Park, a 262-acre city treasure that boasts walking/jogging trails, sports fields, pickleball courts, a disc golf course, two ponds, and one of the best farmer’s markets in the area. Soon it will be home to part of Richmond’s Fall Line Trail which will span seven localities and run for 43 miles, including right through Bryan Park. In addition, nearby Lakeside is booming with shopping, restaurants, and well-known antique and vintage stores. The Bryan Park neighborhood has an active voluntary association that hosts parties, movie nights, Easter egg hunts, and more. This home was voted yard of the month in 2025--come take a look at this gem right in the heart of metro RVA!
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.
