316 Oakcrest Manor Dr NE
Leesburg, VA 20176
6 beds · 4 baths · 3,844 sqft
$847,900
Get prequalified316 Oakcrest Manor Dr NE
Leesburg, VA 20176
6 beds · 4 baths · 3,844 sqft
$847,900
Get prequalifiedLuxury awaits as you step onto the welcoming stone walkway to your new home. Nestled in a charming, tree-lined neighborhood, this elegant colonial detached home exudes timeless character and modern comfort. With four spacious bedrooms and two full bathrooms in addition to a half bath on the upper level, it offers generous living space ideal for families or those who love to entertain. This home also boasts two bedrooms and one full bath in the finished basement. The finished basement provides a versatile space for recreation, hobbies, or additional living quarters, making it a true extension of the home. As you enter your two-story foyer, you'll find a warm and inviting atmosphere with traditional touches, including detailed moldings and hardwood floors. The main level boasts a cozy library, perfect for quiet reading or a refined home office. A granite kitchen flows seamlessly into the family room. Family room doors open to a large deck that overlooks a lush backyard—ideal for outdoor gatherings or tranquil mornings with coffee. A nearby historical park offers scenic beauty and a connection to the area's rich past, ideal for leisurely strolls or family outings. The recent improvements made to the home have significantly enhanced its appeal and market value. Key upgrades include: New wood floors, fresh interior and exterior paint, and new carpet, which modernize and refresh the living spaces. Power washing of the exterior, improving curb appeal and giving the home a clean, well-maintained appearance. A groomed and landscaped yard, creating an inviting outdoor environment and boosting overall presentation. These updates contribute to an attractive property, while likely maintaining a fair market value.
Source: BRIGHT #VALO2097892
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.