Set on a quiet non-through street in the highly sought-after Lake Ridge community, this beautifully maintained 3-bedroom townhome offers a perfect balance of comfort, convenience, and natural surroundings. The bright and inviting main level begins with the updated kitchen just off the entryway, featuring modern finishes and a functional layout. From there, a doorway leads into the dining area, which overlooks the sunken living room below. The living room features custom built-ins that add both character and practical storage. Updated laminate wood flooring runs throughout the main level. The space continues out to an expansive Trex deck, perfect for entertaining or simply relaxing while enjoying serene views of mature trees and a seasonal creek. With the windows open, you’ll love the calming sounds of nature right in your backyard. Upstairs, you’ll find three spacious bedrooms and two full baths, including a fully renovated primary bathroom with stylish, modern updates. Brand new carpet was just installed on the stairs and throughout the entire bedroom level, adding a fresh, move-in ready feel. The walk-out basement is partially finished, offering flexible living space along with ample storage, a laundry area, and an additional half bath. The interior has just been freshly painted, giving the home a clean, updated, and truly move-in ready feel. Major system updates provide peace of mind, including newer windows throughout, updated gutters, deck, and recently replaced appliances. The home also conveys with two assigned parking spaces directly in front. Enjoy all that Lake Ridge has to offer, including multiple pools, walking trails, tennis courts, and playgrounds, all just a short walk across the nearby open field. The location is unbeatable, just minutes to Occoquan’s charming waterfront shops and dining, and close to Occoquan Regional Park for outdoor recreation like running, paddleboarding, and boating. Commuters will appreciate easy access to major highways, as well as proximity to Potomac Mills and Stonebridge Town Center for shopping, dining, and entertainment. Even more appealing, the home features a VA assumable loan at just 2.25%, a rare opportunity for qualified buyers to take advantage of significantly lower than current interest rates. This quiet, updated, and move-in ready home truly has it all. Don’t miss your chance to make it yours!
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.
