**1 LEVEL Living!** Welcome to 5506 JOPLIN ST, a charming ALL brick rambler in the heart of North Springfield, just minutes from 495, commuter routes, shopping, parks, and dining. Set on a generous, sunny lot, this inviting home offers fantastic curb appeal, a wide front lawn, and the convenience of driveway parking right at your front door in a carport. Step inside to a bright living room featuring a painted brick fireplace, ALL NEW windows, and fresh neutral finishes that create a warm, inviting backdrop for everyday living. ALL NEW LVP flooring through out. The main living area flows into an eat‑in kitchen and dining space with recessed lighting and a sliding glass door that opens directly to the patio, making indoor‑outdoor entertaining effortless. The kitchen and dining area overlook the backyard—perfect for play, pets, gardening, or future projects—with a fenced yard and storage shed completing the outdoor retreat. NEW baths showcases large‑format tile surround, a sleek vanity, and contemporary fixtures for a clean, modern feel . ALL NEW SYSTEMS- KITCHEN , BATH, ROOF, HVAC, Flooring , Appliances, Laundry and List goes on..... Practical features include a dedicated laundry room with abundant cabinet storage and direct access to the rest of the home, helping keep daily life organized and clutter‑free. Outside, the rear patio and level yard offer plenty of room for grilling, a fire pit, or future deck—perfect for enjoying long summer evenings in an established Springfield neighborhood. All of this comes with access to highly rated Fairfax County schools and nearby community amenities, making 5506 JOPLIN ST a wonderful opportunity for first‑time buyers, downsizers, or anyone seeking a well‑located Springfield home with mid‑century charm, thoughtful updates, and room to make it their own.
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.
