This great condominium features a well-kept interior with several recent updates. The home includes rich hardwood flooring, crown molding, recessed lighting, and fresh interior paint that creates a bright, move-in-ready space filled with natural light from multiple oversized windows. The open living area is enhanced by an arched entry, a gas fireplace with custom built-in shelving and cabinetry, and ceiling fans for added comfort. A separate dining room offers defined space for everyday meals or entertaining. The kitchen features a bay window that brings in additional natural light, along with updated cabinetry, a pantry for added storage, stone countertops, and newer stainless steel appliances including the refrigerator, dishwasher, microwave, and gas range, complemented by a modern tile backsplash and a ceiling-mounted pot rack for added functionality and storage. A newer full-size washer and dryer also convey with the unit. Additional highlights include a digital thermostat, updated windows completed by the condominium association, spacious bedrooms with ceiling fans, a large closet with built-in shelving, and well-appointed bathrooms featuring large vanities and glass-enclosed showers. A private covered balcony provides outdoor space for seating and overlooks the community. Condominium and HOA fees include water, trash service, snow removal, parking, exterior and common area maintenance, along with access to community amenities such as a pool, fitness center, and clubhouse/party room. Two resident parking permits are provided, plus a visitor pass for guests. Situated in Sterling within Loudoun County, this home offers convenient access to major commuter routes, shopping centers, dining options, and Dulles Town Center. Outdoor recreation is close by at Algonkian Regional Park and along the Potomac River, featuring a golf course, boat ramp, water park, playgrounds, and scenic trails. Residents also enjoy the amenities of the Cascades community, including pools, tennis and pickleball courts, and walking paths throughout the neighborhood.
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.
