Welcome home to this charming 4 bedroom, 2.5 bath home in the highly sought after Lakeside area - where neighborhood charm meets unbeatable convenience! From the moment you arrive, the cheerful front door, fresh landscaping, and inviting covered porch set the tone for what's inside. Step through the front door onto beautiful hardwood floors and into a bright, open living room filled with natural light from multiple windows. The kitchen and dining area are the heart of the home, featuring warm wood cabinetry, brand-new vinyl flooring, and a sunny dining space with a slider that opens directly to the back deck. Whether it's morning coffee or summer entertaining, that indoor-outdoor connection is great for entertaining. This home features 2 primary bedrooms which is a rare and wonderful find. The first-floor primary suite is spacious, private, and complete with a walk-in closet and en-suite bath. Upstairs, a second oversized primary bedroom with its own large walk-in closet offers incredible flexibility for guests or multi-generational living. Two additional bedrooms and a full hall bath round out the upper level. Out back, the deck overlooks a gorgeous, tree lined yard that feels like your own private retreat — complete with a large storage shed, raised garden beds, and a chicken coop for the homesteader at heart. Being at the end of a quiet street just adds to the serenity. The wooded area to the left is protected and won't be developed! And the location doesn't get any better. Quick access to all major interstates makes this one of the most convenient areas in town. Willow Lawn shopping and dining, Richmond City, and all the amenities of the West End and Short Pump are just minutes away. Whether you're commuting, dining out, or running errands, everything you need is right around the corner.
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.
