****2.875% VA ASSUMABLE LOAN- inquire with the listing agent for more details!*** Over 3 acres flat lot with a 2 car detached garage (done in 2017) with potential living space/office above the detached garage. Nestled on a beautifully maintained homesite in the sought after Stafford Estates, this inviting residence offers the perfect balance of peaceful suburban living and easy access to shopping, dining, commuter routes, and local amenities. Step inside to discover a thoughtfully designed floor plan filled with natural light and flexible living spaces. The main level provides plenty of room for both everyday living and entertaining, while the well-appointed kitchen serves as the heart of the home, offering ample cabinetry, generous workspace, and a seamless connection to gathering areas. On the main floor you’ll find 3 spacious bedrooms providing comfortable retreats for family and guests alike. The primary suite offers a private escape with room to relax and recharge at the end of the day. Additional living space allows endless possibilities for a home office, playroom, fitness area, or media room to fit your lifestyle. Outside, enjoy a backyard setting designed for relaxation, outdoor dining, gardening, or simply unwinding in the fresh Virginia air. Sump pump was pumped this year (2026), freshly painted through-out, updated fixtures, 2 Tesla Car Chargers, Solar Panels (saving you BIG time on the electric bill) stainless steel appliances and granite counter tops. This home has never been sold since it was built in 2013 and has been meticulously maintained/thoughtfully updated by the homeowner. Whether hosting friends, spending time with family, or enjoying a quiet evening at home, this property provides the space and versatility to make lasting memories. Ideally located near commuter lots, I-95, VRE access, parks, schools, and historic downtown Fredericksburg, 320 Timber Mill Lane offers an exceptional opportunity to enjoy convenience without sacrificing the tranquility of home. Move in and start enjoying everything this wonderful property and vibrant community have to offer.
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.
