288 Cropp Rd
Fredericksburg, VA 22406
3 beds · 3 baths · 2,546 sqft
$565,000
Get prequalified288 Cropp Rd
Fredericksburg, VA 22406
3 beds · 3 baths · 2,546 sqft
$565,000
Get prequalified**New Price! VA ASSUMABLE AT 3.35%.** Welcome to your serene retreat! This charming split-level home is nestled on a private, wooded 3.28-acre property in the desirable Hartwood area. Featuring 3 spacious bedrooms and a versatile 4th room in the basement—perfect for an office or an additional bedroom (NTC)—this home offers ample space for all your needs. Step inside to discover high ceilings that create an airy feel throughout the main living areas. The heart of the home is the large kitchen, equipped with a breakfast bar and gorgeous cherry cabinets, perfect for both cooking and entertaining. The open layout also features a bright family room with fireplace, and a dining room. The primary bedroom gives you plenty of closet space while the primary bath features a walk in shower and garden tub perfect for relaxing. Rounding out the main level is 2 additional bedrooms as well as a full bathroom. In the basement you'll find plenty of flex space including a living room, exercise room, absolutely giant laundry room, and a room that can be an office or 4th bedroom (NTC). The 2 car garage with brand new doors is ready for vehicles, yard equipment, or any storage needs. Outside, enjoy the tranquility of your expansive property on the rear deck. Large raised garden beds with established wild flowers line the driveway, a huge chicken condo perfect for your poultry pals and their fresh eggs, and a fenced back yard that ensures privacy and security. Wander along the scenic walking trail leading to a cleared field, ideal for outdoor activities and bonfires. Don’t miss this opportunity to own a piece of paradise in Hartwood! Schedule your showing today!
Source: BRIGHT #VAST2039710
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.
