*2.49% ASSUMABLE VA MORTGAGE for qualified buyers! Gorgeous 2-bedroom, 2-bathroom Clarendon II townhome nestled in the highly sought-after Fairlington Villages! This beautifully maintained home features refinished blonde hardwood floors, neutral paint, & classic wood shutters throughout, adding warmth, charm, & privacy to every space. The light-filled living room welcomes you with crown molding & a ceiling fan, creating an inviting space for everyday living. The open kitchen is thoughtfully updated with white soft-close cabinetry, quartz countertops, a classic white subway tile backsplash, & stainless steel KitchenAid appliances, including a newer stove (2024). An island with statement pendant lighting & stool seating adds both functionality & style. Just off the kitchen, the separate dining area overlooks the private brick paver patio with a storage shed - perfect for relaxing or entertaining. Upstairs, solid core doors with crystal & brass hardware elevate the entire level, adding a refined touch throughout. The beautifully updated bathroom features a stone-topped soft-close vanity, floating shelves, & a sparkling white tiled shower. The spacious primary bedroom offers overhead lighting & a large walk-in closet, while the 2nd bedroom includes a modern ceiling fan with overhead lighting. The lower level boasts upgraded carpeting & recessed lighting throughout the expansive recreation room & bonus room, which is currently set up as a huge walk-in closet, but can easily be converted back to a guest space or home office. A full bathroom features tile flooring, a stone-topped soft-close vanity, a medicine cabinet mirror, a contemporary light fixture, & a tiled corner shower. A convenient laundry nook includes a newer full-sized washer & dryer (2024) with overhead cabinet storage. Additional highlights include a new HVAC system (2024), a floored attic for extra storage, & two reserved parking spaces. Fairlington Villages residents enjoy exceptional amenities including six pools, lighted tennis courts, tot lots/playgrounds, walking paths, & MORE. Ideally located near I-395 and just minutes to The Village at Shirlington, West Alex, Baileys Crossroads, Del Ray, & Old Town - offering unbeatable convenience to shopping, dining, & commuting options.
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.
