31 Warren Dr, Newport News, VA 23608
3 beds · 2 baths · 1,494 sqft
Step into classic comfort with this well-maintained 3-bedroom, 1.5 bath brick rancher nestled in the desirable subdivision of Stonybrook in Newport News. This house is full of character and ready for its new owners! It features a spacious living area with a cozy fireplace and a large bay window in the front that fills the home with plenty of natural light. This home offers warmth and charm throughout! The dedicated dining area connects to a functional kitchen with laminate countertops, suitable for everyday meals or entertaining guests. There is a designated laundry room connected to the kitchen for convenience. All bedrooms are generously sized, and the layout offers both privacy and an effortless flow. Outside, enjoy a fully fenced-in yard - ideal for pets, play, or gardening. This home is situated on a large corner lot, meaning plenty of opportunity for a beautiful garden oasis in your front or side yard, or both! This is a wonderful opportunity to own a solid home with mid-century charm and modern potential. Schedule your showing today!
Source: CENTRALVIRGINIA #2511465
Source: CENTRALVIRGINIA #2511465
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.
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.
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.