Welcome to this charming colonial home nestled in the heart of Fairfax Station on a supreme lot! A 2 car front load garage beckons you up the driveway where you are greeted by a brick walkway that meanders to the front portico. Step inside through the double front doors to find newly refinished hardwood floors that sweep throughout the main and upper levels. A dual height foyer gives a sense of space and light and is flanked by a delightful home office and formal dining room. Through the dining room is an accessible butlers pantry, opposite a convenient mud room, and leads into the gourmet kitchen where stainless steel appliances, granite countertops, a custom backsplash and tons of cabinetry and counter space are every chef's delight. An informal dining space off the kitchen is spacious for cozy breakfasts and is open to the family room with a brick surround gas fireplace and mantle. An enormous 4 season room provides ample space to entertain, combining indoor and outdoor living seamlessly. A powder room completes this level of the home. Upstairs, a grand primary suite with its own sitting room, walk-in closet, 2 reach-in closets and spa-like en-suite bathroom, is complemented by 3 generous sized bedrooms, each with great closet space and ceiling fans, and share the beautifully appointed hallway bathroom. The lower level has a large versatile recreation room, home gym, laundry center, full bathroom, tons of storage and access to the walk up stairs. Outside, multiple living spaces provide plenty of opportunity to relax surrounded by the glorious landscaping and majestic mature trees. If you're looking for elegant, convenient living in the Robinson School pyramid, you've found it, and welcome home! Roof - unknown, Windows - 2022, HVAC - 2017, Hot water heater - 2017, hardwood floors upstairs - 2019. Community pool (memberships available), tennis courts, neighborhood pond, and walking trails. Easy access to the Fairfax County Parkway, Route 123/Ox Road, commuter bus stop at entrance to the neighborhood, Burke Center VRE station minutes away. Repaving of the pipestem will be done in the future.
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.
