Enjoy a Richmond spring on bright & beautiful North Avenue! 3201 North Avenue has been lovingly maintained so the historic beauty of her original features absolutely shine, while adding all the conveniences that make your life easier and more comfortable in 2026. Welcome guests off the expansive front porch into your gorgeous historic foyer, with so much preserved detail. Move into the living room, and really see the advantage of a corner lot - so. much. light! Large windows all around bring tons of natural light into all of the living spaces. The open kitchen, with room for a movable island, provides modern updates and access to a handy first floor powder room. Easy, natural flow into the dining and living rooms make this a home that begs for parties! The second level features three large bedrooms, all with the original hardwoods - but the real treat here is the primary. An oversized primary with a huge en suite bathroom - yes, get a house built in 1912 with an EN SUITE! The basement holds a great surprise - clean, finished space to be used any way you like! A den, a home gym, game room, or whatever you can imagine - even just ample storage! The backyard is a highlight too - a huge park-like space within the city is a real oasis. Level, fully fenced, and painted all black for a really modern vibe. 3201 North Ave offers the rare opportunity to get into a historic home with no work to be done - take the keys, walk in, and live your next, beautiful chapter in Northside!
3201 North Ave, Richmond, VA 23222
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.
