Welcome to this move in ready 1,512 square foot home. This stunning traditional gem nestled in the heart of the highly-coveted Brandermill community will wow you. Freshly painted inside, its timeless colonial style with modern upgrades, offers a turn-key lifestyle at an unbeatable value. Enjoy the ultimate staycation. Whether you're relaxing on a rocking-chair on the front porch, dining in the screened-in porch, or hosting around the custom fire pit and paver patio, this home was built for entertaining. The flat, fully fenced yard and freshly painted oversized deck offer the perfect setting for you and your pets. Step inside to find gorgeous white oak flooring that flows throughout both levels, including the stairs. The renovated eat-in kitchen is a chef's delight, featuring granite countertops, elegant wainscoting, and a custom tile backsplash. Cozy up in the spacious living room, featuring gorgeous partially vaulted ceilings, a brick wood-burning fireplace encased by beautiful built-in bookcases and elevated by crown moulding. Upon entry you won't miss the the beautiful and bright dining room which you could convert into a bedroom or second living room with full bath if needed one day! Already there, is ample space in the half bath, which includes a designated washer and dryer area plus linen closet. Upstairs, the primary suite is a true retreat with a massive walk-in closet and direct access to the full bath. On the second floor you will also find two more spacious bedrooms to accommodate all your living needs. Don't miss the spacious built in utility shed out back to store your tools and more! Enjoy access to 15+ miles of scenic trails, three community pools, community events, the Swift Creek Reservoir for boating and fishing, playgrounds and parks, all in the desirable Swift Creek/Clover School District. Only 20 minutes from downtown Richmond and tons of shopping, but secluded enough to enjoy the tranquility surrounded by nature in Brandermill! Have lunch at The Boathouse or hit a round of golf nearby!
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.
