Welcome to 49 Little Oak Rd in Fredericksburg, VA—a comfortable and inviting 4-bedroom, 3-bath home tucked away on a quiet cul-de-sac, designed to help you slow down and truly relax. With over 2,600 square feet of living space, this home offers both comfort and functionality. Step inside to find higher ceilings, ceiling fans, recessed lighting, and abundant natural light throughout the main living area. Cozy evenings await around the warm glow of the wood-burning fireplace. A separate dining area features a stunning wall of three double glass-door cabinets that convey with the home, providing both charm and additional storage. The kitchen offers stainless steel appliances, ample cabinetry, and a sliding glass door that opens to a welcoming deck with stairs leading to the beautiful green backyard—perfect for morning coffee, weekend barbecues, or simply enjoying the peaceful surroundings. The main level includes three bedrooms and two bathrooms, including the spacious primary suite with an updated bath featuring a soaking tub, separate shower, and double-sink vanity. The lower level offers a large rec room (currently used as a sewing room), a full bathroom, and a spacious laundry/utility area complete with full-size washer and dryer and a utility sink. The fourth bedroom is also located on this level and provides walk-out access to the rear patio and yard. A convenient storage shed provides additional space for tools, hobbies, or outdoor equipment. Major updates include: windows all except the laundry room (2021), LED lighting in some areas (2022), hot water heater (2022), roof (2015), HVAC (2024), garage doors (2022), garage door openers (2023), Fascia boards replaced-2021 and Deck support replaced-2025, composite deck flooring (2022), plus many additional improvements. Conveniently located near the Leeland Rd VRE station for easy commuting and just minutes from shopping, dining, and everyday essentials, this home offers the perfect blend of comfort, convenience, and a place you’ll love coming home to.
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.
