Awesome, updated home in the heart of Manassas, on a quiet street but close to everything. These houses may all look cookie cutter from the outside but trust me, this one is anything but. So much new it's almost easier to list what's not, but here are the details anyway: **Roof 2020 w 50 year shingles, warranty is transferable to new owner as a 20 year term. All doors and double-hang/double-paned windows 2023 have a lifetime transferable warranty. HWH, HVAC (inside & out) and bath updates 2022. *Gas* range and washer/dryer 2023. Dishwasher and LVP flooring 2024. Front siding 2025. Stone counters 2026. Six-foot privacy fence replaced in 2019. Garage roof 2018 ** A full home inspection by licensed inspector, performed at owner's request just prior to listing, yielded no major issues, and the seller remediated just about every minor issue that was flagged. ** This awesome home has so many features to love: a covered cement-floored front porch to watch the world go by (not many of these models have that). ** Main level living - primary bedroom, bathroom, laundry, kitchen, living room, backyard access are all on the entry level...don't use the stairs unless you want to ** Great loft area can be used as office, sitting area or playroom space, or just put up studs and drywall on the open stair rail and make it a third bedroom! The icing on the cake is a large two car garage with overhead storage, which sits at the back of the property and is accessed via a second driveway from the street to the garage doors, with parking for twelve or so on the way there..but there is still PLENTY of level, grassy backyard for playing, gardens or whatever. ** NO HOA!!!! ** Once you are done seeing the property, drive or walk the few steps to the end of the street, where you will find the cutest little neighborhood shopping center with a salon, cleaners, tienda, restaurant and more (all your errands in one walkable place), plus a police station (can someone say "safe") and a 7-11. Date night or drinks with friends is only a few steps away; no designated driver needed! *** If you are looking for a turn-key, well-maintained, updated starter home at a great price look no further... this one is ready and waiting for you! ** Assumable VA loan w/ 2.7% interest rate; details about equity payment in agent notes.
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.
