5 W Graham Rd
Richmond, VA 23222
4 beds · 3 baths · 1,858 sqft
$449,900
Get prequalified5 W Graham Rd
Richmond, VA 23222
4 beds · 3 baths · 1,858 sqft
$449,900
Get prequalifiedThis beautiful American Four Square home in Northern Barton Heights is a true gem for someone who loves the old style and charm that was once the standard for this area, but needs the modern amenities like lots of bathrooms, and an upgraded kitchen. Only a block and a half from Battery Park, with play equipment, basketball and tennis courts, this home was renovated by the prior owner, then some major repairs done to the plumbing and new hvac unit for one level by the current owner. High ceilings and jewel toned sitting room, formal dining or living room, upgraded kitchen, everything freshly painted. 2.5 BATHS!! One is a master bath off the largest 2nd floor bedroom. 2 bedrooms towards the front of the house feel light and bright, are quite spacious and have decent sized closets. House gets great light upstairs and downstairs, especially by the original stained glass downstairs. Full front porch for chilling, 2 story back porches, huge flat yard. Privacy fenced, with a little parking carved out by the current owner at the front left corner. Lots of changes in the neighborhood, including to the parking lot next door. Walking distance to the bus line and bike lanes are all over this side of town, nice shopping & eating corridor within walking distance. House would make great first time home, with space for roommates or kids and pets. Showings begin Saturday 7/5.
Source: CENTRALVIRGINIA #2516086
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.
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