Welcome to 5259 Cozy Glen Lane, a nicely upgraded 3 bed, 2 full/1 half bath, 2-car garage, 3-level, 2698 finished sq.ft. end unit townhouse in the Overlook community located at Alexandria’s West End. The Community offers a tree lined entrance drive & Park-like setting (Overlook surrounds Fairfax County's Bren Mar Park), while still providing immediate access to 395/Beltway/95, with proximity to the Pentagon, DC, Reagan National airport, and Old Town Alexandria. Overlook is 10 minutes from the $2.2 Billion WestEnd Alexandria development project, which will include the new Inova Alexandria Hospital Campus. This combination of house, Community, and location features are rarely found Inside the Beltway. XXXX To learn more about Overlook and the surrounding West End Alexandria area, refer to the property website and the Living in Overlook website, which a comprehensive resource developed by the Listing Agent with detailed community insights, visuals, and information on other "Livability" benefits from proximity to everything, including the referenced WestEnd Alexandria project and Old Town Alexandria. If you are viewing the non-branded version of the Property website, ask your agent for the URLs to both the branded Property website (for Community and WestEnd Alexandria project videos) and the Overlook website. XXXX House Features & Upgrades: The house opens to the Living Room with a 10 foot ceiling, crown molding, and 3 oversized transom windows that fill the space with Natural light. These windows have custom Plantation shutters, including the arched transoms. The Living Room has space for a dining table, then leads to the open kitchen. The remodeled kitchen has mahogany finish cabinets, stainless appliances, granite counters with a tile backsplash, and a 2-level island with space for three stools. A gas fireplace is opposite the island, with a rear bump out sized for a relaxing seating area. Three walls of windows provide Natural light throughout the Main Level. The kitchen leads to deck, then steps down to a fenced-in Fieldstone patio with a side gate for access. The mature Crepe Myrtle trees behind the TH provide a 3-Season green view. The half bath is located off the stairs to the Lower Level. The Owner’s Suite is large enough to make a King-size bed look small, with two walk-in closets and separate seating or office area. Three walls of windows provide Natural light throughout this space. The Owner’s Suite Bathroom has two Quartz topped vanities, a soaking tub, walk-in shower with frameless glass door, & a water closet. The 2nd & 3rd bedrooms are each sized for a Queen bed with a double door closet. The 2nd full bathroom has a Quartz topped vanity with tub/shower combo. The Laundry is located on the bedroom level. The Lower Level has Luxury Vinyl Plank flooring. This level has a walk-in closet that is sized and roughed-in for a 3rd full Bathroom. The garage is a two-car, single door model, with a separate storage area and overhead storage bays. The driveway offers space for two parking spaces. Every window in the house has Plantation shutters, with a custom Plantation slider door fitted to the slider door to the deck. The roof was installed in 2018 (30 year shingles). The water heater was installed in 2020. Visitor parking is available at either end of Cozy Glen less than a 30 second walk to the TH.
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.
