Beautifully renovated 3-bedroom, 2-bath end-unit townhouse-style condominium in the highly desirable Sequoyah community of Alexandria, featuring a rare 2.99% assumable VA loan for eligible buyers. This Riverdale Three model offers a flexible and functional layout with a main-level bedroom and full bath, plus two additional bedrooms and a full bath upstairs. Extensively renovated in 2020, the home was completely repainted and thoughtfully redesigned to create an open-concept kitchen and living space by removing a wall, enhancing flow and natural light. The fully remodeled kitchen features custom cabinetry with pull-out storage, stone eat-at countertop, new stove, mounted microwave, dishwasher, updated sink and fixtures, and a dual-function faucet with dedicated filtered drinking water dispenser. The living room centers around a beautifully remodeled wood-burning fireplace with a striking quartz accent wall, creating a warm and modern focal point. All light fixtures were replaced during renovation, ceiling fans installed in every room, and new flooring added throughout the upstairs and downstairs bedroom. Major system upgrades include a new HVAC system (2021), new refrigerator (2023), new garbage disposal (2026), professionally cleaned vents and chimney (2025), and a tankless hot water heater (2026) that conveys with the home. Smart-home features include an EcoBee smart thermostat with five sensors, Lockley smart lock, Ring video doorbell, wired ADT security system with mounted control panel, and Bluetooth-enabled bathroom light/fan fixtures with integrated speaker systems and touchscreen controls. The primary bedroom offers a walk-in closet plus an additional remodeled attic/side room converted into an approximately 16-foot-long walk-in closet with mounted shelving, along with its own independent AC unit for customized comfort. A full-size ventless 2-in-1 washer/dryer combo maximizes space while maintaining full capacity. The home also includes a private exterior storage unit, an especially valuable feature in condominium living. Sequoyah residents enjoy water and trash included in the HOA fee, dedicated parking, a community pool, playground, tennis court, clubhouse, and a dog-friendly environment with no breed or quantity restrictions beyond Fairfax County regulations. Ideally located with a bus stop next to the property offering direct access to Huntington Metro, less than 15 minutes to Fort Belvoir and Old Town Alexandria, under 3 miles to George Washington Memorial Parkway and Mount Vernon, and under 1 mile to Costco. Easy access to major commuter routes and nearby shopping, dining, and parks. Optional furnishings and select fitness equipment available for purchase, offering potential turnkey convenience. A rare combination of modern upgrades, flexible layout, smart technology, community amenities, and exceptional financing opportunity.
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.
