5208 Gainsborough Dr
Fairfax, VA 22032
4 beds · 3 baths · 2,982 sqft
$989,990
Get prequalified5208 Gainsborough Dr
Fairfax, VA 22032
4 beds · 3 baths · 2,982 sqft
$989,990
Get prequalifiedNew Price! Welcome home! Nestled in the established community of Kings Park West, this beautifully maintained colonial combines timeless charm and a prime location - all in the desirable Robinson Secondary School pyramid! Inside the freshly painted home, beautiful recently refinished hardwood floors flow seamlessly throughout the main level of the home, leading you from the light-filled living room into the adjacent dining room. The gorgeously renovated kitchen boasts lovely French Country cabinets, stainless steel appliances, and a classic subway tile backsplash. With the peninsula breakfast bar opening into the dining room, this layout is ideal for everyday life or effortless entertaining. The rare main-level bedroom offers flexibility for use as a guest room, home office, or multigenerational living space. Gleaming hardwood floors continue upstairs to the spacious primary bedroom, featuring generous closet space and a stylish en suite bathroom with a wide vanity. Both additional bedrooms include wide closets, ceiling fans, and shared access to the second refreshed bathroom in the hallway. Downstairs, the lower level of the home offers an expansive and versatile recreation room for additional flexibility. Step outside from the main level to enjoy relaxing or entertaining on your handsome slate patio, surrounded by lush professional landscaping and mature trees for peace and privacy. Enjoy close proximity to Burke Lake Park, Lake Braddock, and convenient shopping and dining at Fairfax Corner, Fair Lakes, Fair Oaks Mall, Giant, Safeway, and Target. With quick access to Burke VRE, Fairfax County Parkway, Ox Road, Braddock Road, I-66, and I-95, commuting throughout Northern Virginia and into D. C. is a breeze! Schedule a private tour of your gorgeous new home today!
Source: BRIGHT #VAFX2249362
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.