Home is where the heart is! You are greeted by brick façade, Williamsburg blue metal front door with maintenance-free shutters & large hydrangea bush. The open-air entry space has large coat closet & new entry light. You have a great view from front door to deck & beyond. Sellers lovingly maintained this beautiful 3 level end-unit townhome located on a peaceful cul-de-sac & backs to open treed area. This fantastic townhome in popular Fair Ridge community offers 3 spacious bedrooms, 3.5 baths & over 2200 sq. ft. of living space. 2010 new laminate floor was laid in the basement & on upper level of the home. New cordless blinds were installed throughout the home 2020. Hardwoods adorn Living Room, Dining Room & the stairs. Love the new Kitchen 2023: large stainless steel sink, new faucet, recessed lighting, extended peninsula for gourmet cooking, quartz countertops, new luxury vinyl laminate flooring, new vent above the stove, stainless-steel appliances & a new stainless-steel dishwasher 2024, stylish tile backsplash & light gray cabinets. Breakfast room is bright & cheery and is adjacent to the kitchen for ease of mealtime. The large pantry provides plenty of room for non-perishables. French doors from breakfast area open to large private deck where you enjoy spring & summer barbecues. The deck was recently updated with fresh stain, new deck boards & railings 2024. A new chandelier accents the spacious formal Dining Room perfect for special family events. Step down to large Living Room with hardwood floors where you entertain your guests. Two large windows allow for natural sunlight to fill the room. Powder Room on the main level was recently painted, new light fixtures, new toilet, new faucet, new pedestal sink & new luxury vinyl floor were installed. Seller used Benjamin Moore paint on the entire first level, including the bathroom. Roof was replaced 2018. In 2010, attic was cleaned & reinsulated for added warmth to the home; new gutters were installed; and new flashing added on outsi. Sellers have a maintenance contract for spring & winter inspections for the furnace & regularly maintained the system since ownership. Elegant vaulted ceilings accent the upper level. Spacious primary suite offers a well-lit walk-in closet, a sitting area, an ensuite bath, vaulted ceiling & new ceiling fan. For comfort and style, master bath has a linen closet, double sinks, new toilet, new tile by the tub and the step to the soaking tub, new shower with tile floor, & new tile flooring. Durock was used on the floor & all walls to include tub and shower. Second bedroom has a vaulted ceiling which provides extra space above closet. Your overnight guests will love the comfort & convenience of the hall bathroom, updated with Durock flooring & Durock walls in the shower, new tile in shower, new shower fixtures, new toilet, and new tile flooring. Water heater & the heating and air conditioning systems replaced 2010. Huge Recreation Room on lower level sports recessed lighting & a cozy wood burning fireplace to warm yourself on cold winter nights. Fireplace was cleaned & inspected, and never been used 2015. A new top added to the chimney & a new front panel installed in fireplace. Sellers installed new tiled entry way in basement 2013. New fence installed 2013. French doors from Recreation Room open to flagstone patio (2015) with hydrangeas & hostas adorning private backyard. Patio refilled & sealed 2025. Bonus room on lower level is full of natural light from 2 large windows & can be used as office, library, or 4th bedroom (NTC). Sellers maintained the outside of the home. 2015 Seller resealed outside and installed 3 underground gutters with cleanouts at side & back of home to enhance integrity of the home. All house vents cleaned periodically. Basketball & tennis courts, pool & Fair Ridge Park are nearby. Close to shops & dining at Fairfax Corner, Fair Oaks Mall & Fair Lakes. Easy access to I66, Rt50, Rt29,123 & FCP! Public bus 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.
