Nestled in the charming community of Dale City, this exquisite Cape Cod-style residence offers a perfect blend of elegance and comfort. Built in 1986, this home has been thoughtfully designed to cater to a modern lifestyle while providing a warm and inviting atmosphere. As you step inside, you are greeted by a spacious formal dining room, ideal for hosting intimate gatherings. The heart of the home features a cozy living area, complete with a stunning fireplace in the Basement that serves as a focal point, inviting you to unwind and create lasting memories with loved ones. The fully finished basement expands your space, offering endless possibilities for entertainment. This versatile area can be tailored to suit your lifestyle whether you envision a game room, a media center, or a serene retreat. The home features three generously sized bedrooms, each designed to provide a peaceful sanctuary. The master suite is a true haven including ample closet space. With two full bathrooms and an additional half bath, convenience is at your fingertips, ensuring that every member of the household enjoys their own space. The exterior of the property is equally impressive, showcasing a classic brick front that enhances its curb appeal. The attached two-car garage, complete with a garage door opener, provides both security and ease of access. Set on a spacious quarter-acre lot, this home offers a private back yard space backing to trees where you can enjoy the beauty of nature. Relax in the tranquil season screened year round Sunroom. This residence is not just a home; it's a lifestyle. Experience the perfect blend of comfort in a community that values both tranquility and convenience. With its high-end features and inviting ambiance, this property is ready to welcome you home. ****ASK HOW YOU CAN ASSUME THE VETERANS VA EXISTING MORTGAGE AT 2.5% FIXED******* ****ASK ON OUR RENT TO OWN OPTION 3.5% FHA DOWN MTG PROGRAM ALSO AN OPTION**** BASED ON QUALIFICATIONS
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.
