Perfectly positioned just moments from Downtown Fredericksburg, the VRE, local restaurants, shopping, parks, and everyday conveniences, 626 Charlotte Street offers the kind of charm and character that is becoming increasingly difficult to find. This inviting bungalow combines timeless architectural details with thoughtful recent updates, creating a home that feels both warm and welcoming from the moment you arrive. Beautiful hardwood floors, oversized windows, and abundant natural light give the home a bright and airy feel throughout. Guests often remark that it's "the cutest little house" and are pleasantly surprised by how spacious it feels inside. The home's vintage details add personality and charm, while recent improvements provide modern comfort and peace of mind. The family room serves as the heart of the home and is one of the sellers' favorite spaces. Large windows fill the room with sunlight throughout the day, creating a comfortable setting for relaxing, gathering with friends, or enjoying a quiet evening at home. The thoughtful layout lives larger than expected, offering comfortable everyday living while maintaining the cozy feel that makes the home so special. Outside, the manageable yard provides the perfect balance of outdoor enjoyment and low-maintenance living. Existing landscaping, retaining walls, and fencing create usable space for pets, gardening, entertaining, or simply enjoying time outdoors without the upkeep of a larger property. Significant recent improvements make this home move-in ready. In 2026, the air conditioning system was replaced, the bathroom was beautifully renovated, the attic ladder was replaced, and both the interior and exterior were freshly painted. The refrigerator and microwave were also replaced in 2026, adding additional value and convenience for the next owner. Location is truly one of this property's greatest assets. Enjoy the ability to walk to the VRE, quickly access Downtown Fredericksburg's shops, restaurants, and events, and reach everyday conveniences within minutes. The neighborhood offers all the benefits of city living while maintaining the charm and character that make this area so desirable. Bright, inviting, and full of personality, 626 Charlotte Street offers a rare opportunity to own a home that combines character, convenience, and thoughtful updates in one of Fredericksburg's most accessible locations. Whether you're searching for your first home, downsizing, or simply looking for something with charm that stands apart from the ordinary, this property is ready to welcome its next chapter.
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.
