Welcome to 603 Kensington Drive, a beautifully maintained 3-bedroom, 2.5-bath townhome nestled in a desirable Stafford County community, offering the perfect combination of comfort, convenience, and scenic surroundings. Featuring a rare two-level bump-out, this home provides valuable additional living space and a more open, functional layout rarely found in similar townhomes. A stunning skylight floods the interior with natural light, while fresh paint, new flooring throughout, and updated bathrooms give the home a modern, move-in-ready feel. The spacious main level offers versatile living and entertaining areas, enhanced by the expanded floor plan. The updated kitchen flows seamlessly into the living and dining spaces, creating an inviting atmosphere for everyday living and gatherings alike. Upstairs, the generous primary suite serves as a private retreat, complemented by an updated en-suite bath. One additional bedroom upstairs and one on the main level and updated bathrooms provide comfortable accommodations for family, guests, or a home office. Step outside and enjoy peaceful pond views from the rear of the home, where the tranquil setting creates the perfect backdrop for morning coffee, outdoor entertaining, or unwinding after a long day. Conveniently located just minutes from Historic Downtown Fredericksburg, you'll have easy access to charming boutiques, local restaurants, waterfront parks, and year-round community events. Commuters will appreciate the close proximity to Leeland Road VRE Station, I-95, Route 1, and Route 17, making travel to Northern Virginia, Washington, DC, and surrounding areas a breeze. Enjoy shopping, dining, and entertainment just minutes away at Central Park, one of the largest retail destinations on the East Coast. Offering rare additional living space, abundant natural light, stylish updates throughout, picturesque pond views, and an unbeatable location, 603 Kensington Drive presents an exceptional opportunity to enjoy low-maintenance living in one of Stafford County's most convenient locations. Don't miss your chance to make this beautifully updated home your 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.
