As you drive up to this lovely home, the welcoming curb appeal says "This is the one!" Situated on a corner lot you will immediately notice the abundance of trees, green space and beautiful landscaping. The home looks crisp and fresh, benefitting from a newer roof, windows, garage doors and fencing. Once inside, you will sense that this was a cherished home that was upgraded over the years by the discerning homeowners. Warm, natural hardwoods grace the living, dining, kitchen and family rooms. The multi level living area provides architectural interest with a soaring vaulted ceiling. There is a separate dining room and the kitchen/family room combo has a wood burning fireplace and slider to the backyard (more on that later) Grow your own basil and other herbs in the greenhouse window over the sink. Stainless steel appliances, granite and butcher block counters lend appeal to the blue Shaker style cabinetry. The primary suite has a walk in closet with lots of shelving, and privacy glass French doors leading to the remodeled bath. There are two other bedrooms on this level (one with a wall of shelving that could handle a small library) and an updated bath. The lower level has a legal bedroom, full bath, recreation room and W/D. You access the two car garage (EXTRA deep) from this level. And now, the backyard...peaceful and private, you can enjoy the sounds of nature as you unwind on the ground level deck. There is a nice balance between shady areas and expanses of sunny lawn. The fully fenced back yard keeps your canine friends contained, but there is area behind the fence should you want to plant vegetables or more herbs! This highly desirable location can't be beat with a short walk to the F81 Express Bus to the Pentagon and easy access to shopping, FFX county parkway, VRE, PLUS all the wonderful amenities of Burke Centre Conservancy. Come see this fabulous home ASAP.... It's Easy to SHOW; It's Easy to LOVE; It's an Easy decision to make it YOURS!
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.
