3704 Burnham Dr
Hopewell, VA 23860
3 beds · 3 baths · 1,766 sqft
$340,000
Get prequalified3704 Burnham Dr
Hopewell, VA 23860
3 beds · 3 baths · 1,766 sqft
$340,000
Get prequalifiedHome is back on market due to no fault of seller. You can get a new home inspection or use the previous buyer! 5 minutes to Fort Gregg Adam’s! This charming 3-bedroom, 2-bathroom home sits on a spacious 1-acre lot quiet lot, offering both comfort and privacy. The primary bedroom is conveniently located on the main floor, featuring a full en-suite bathroom and generous closet space. Upstairs, you’ll find two additional bedrooms and a shared full bathroom—ideal for family or guests. The heart of the home includes an open-concept living and dining area with large windows that bring in natural light and provide views of the expansive yard. The kitchen is thoughtfully designed with ample counter space, modern appliances, and a cozy breakfast nook. A detached 2-car garage provides plenty of room for vehicles, tools, or a workshop setup. The surrounding acre of land offers opportunities for gardening, outdoor activities, or even future expansion. It’s a perfect blend of rural tranquility and functional living. This will not last long.
Source: CENTRALVIRGINIA #2513051
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.