Offering charm and character blended with modern conveniences in the heart of Winchester. Located in the lovely neighborhood of Whittier Acres, this home has been professionally redesigned with flexibility in mind... so you can call it "home" for years to come. Our main level is fitted with two bedrooms and two baths, in addition to a formal living room and an open concept kitchen/dining/family room - which presents the ideal one level living opportunity. The primary suite is a retreat, with a walk-in closet and well appointed ensuite and laundry. The secondary bedroom is sizeable and is served by the hall bath with plenty of storage. The kitchen/dining and family room areas have been thoughtfully designed to include Hickory floors, custom Kraftmaid cabinetry and plenty of lighting. The upper deck, outfitted with new Trex stairs to the pool, is accessed by the family room. It is the perfect spot for morning coffee or to contemplate a dip in the pool! Our Garden level is a light filled space where you will find two more bedrooms, full bath, laundry and a kitchen area. With access directly to the pool, this is your 'outdoor living' dream come true... luxury vinyl plank won't mind a little pool water and the convenience of a full bath is a must . This space is also ideal as a guest suite or perhaps an income opportunity. The back yard is fully fenced and the pool is open and waiting for you! This home has only had two owners in 54 years...come add your history to 329 Wood Avenue. Some nearby points of interest include, Historic Downtown Winchester, The Museum of the Shenandoah Valley with gardens and walking trails, Winchester Medical Center, Whittier Park and Handley Library. Shopping and dining options are also moments away. Please see attached document highlighting all the wonderful renovations. Floor plans are also in the document section. Furnishings are available for purchase.
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.
