Tucked back from the road on a spacious, private lot, surrounded by trees, this inviting Alexandria home offers the kind of setting that’s getting harder to find... Country living in the city! Lots of space for play or creating a small homestead with raised beds for your own garden! The kids can enjoy walking to school on the nature trail as well as accessing the rest of the neighborhood for biking and fun. Plus you can literally walk right across the street to Grist Mill Park for sports or playtime and Mount Vernon Country Club for getting that round of golf in! Hardwood flooring throughout. Tons of spacious bedrooms. Two large living rooms each with a fireplace for those cozy winter nights! The layout is both practical and comfortable, with an eat-in kitchen for everyday living plus a separate dining room that’s perfect for special gatherings. Just off the main living space and kitchen, the screened-in porch is a favorite spot- ideal for morning coffee or winding down in the evening without worrying about the bugs. Out back, the yard is ready for whatever you enjoy most. There’s a firepit for cool nights, raised garden beds for growing your own vegetables or flowers, and a shed for extra storage. Whether you’re hosting friends or just enjoying a quiet weekend, the options are endless! A two-car garage adds convenience and plenty of room for parking and storage. Don't miss the brand-new roof! That is a huge expense you will NOT have to worry about! Location-wise, it’s hard to beat. You’re minutes from George Washington's Mount Vernon, close to Fort Belvoir, and have easy access to the Mount Vernon Trail for biking, running, or just getting outside. The Potomac River adds even more ways to enjoy the area’s natural beauty. Commuting is straightforward, with convenient routes to the Pentagon and beyond. Plus you can literally walk out the door to a nearby bus stop and get to your office in DC or the Pentagon. Easily bike to work if you are stationed at Fort Belvoir (and you can actually bike to the Pentagon too for a good workout). This is a very special place in the shadow of George Washington's historic home. Make it yours on the 250th birthday of America!
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.
