Move-in ready and full of charm, this classic Sears bungalow in Alcova Heights blends timeless character with modern updates. A welcoming front porch leads to gleaming hardwood floors and a bright, open family and dining space—perfect for hosting and everyday living. Just off the family room, a cozy office with an arched doorway makes working from home easy. The main-level bedroom and full bath are great for guests, and charming archways lead to a sunny breakfast room overlooking the deck and backyard. Upstairs you’ll find three spacious bedrooms and two full baths, including a private primary ensuite. The finished basement adds even more flexibility with a den or fifth bedroom and another full bath. Outside, the oversized two-car detached garage offers rare extra space for storage, a gym, workshop, and plenty of parking. The location is hard to beat—tucked between Route 50 and Columbia Pike, just minutes to Ballston, Clarendon, Fort Myer, the Pentagon, DC, Amazon HQ2, and Reagan National Airport. Walk to the Metro and explore everything from the National Mall and Smithsonian museums to Nationals, Capitals, and Commanders games. The neighborhood is friendly and close-knit, with a monthly newsletter, holiday events, and nearby parks. Cozy, spacious, and full of great memories—this is a special place to call home. **Square footage is approximate and should not be used for property valuation. Mini Splits: 1. Main Floor Spare Bedroom – Carrier Heating and Airconditioning installed in December 2021 2. Main Floor Living Room – Mitsubishi Multi-Zone HP Installed December 2023 3. Basement Living area - Mitsubishi Multi-Zone HP Installed December 2023 Basement Water Abatement System – Installed in Summer 2021 1. Sump Pump in storage room – Installed as part of the Water Abatement System Water Heater – Unknown Age, probably 6-8 years Basement Ejector Pump – Unknown Age, probably 10 years Appliances 1. Washer and Dryer – Samsung stacked bought new in 2021 2. Refrigerator – Samsung bought new in 2024 3. Stove/Oven – Samsung bought new in 2024 4. Dishwasher – Samsung bought new in 2024 Kitchen Fully remodeled in 2024
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.
