Price improvement makes this one of the best values in River Towers! Welcome home to this beautifully maintained 1-bedroom, 1-bath condo in the highly sought-after River Towers community of Alexandria. This bright, sun-filled home offers an open and functional layout with large windows that invite natural light throughout the day. Step inside and enjoy a spacious living area, a well-appointed kitchen, generous closet space, and a comfortable bedroom retreat. Whether you’re relaxing in the living room or unwinding after a long day, this home delivers comfort, privacy, and convenience at an unbeatable price point. River Towers is a well-managed community set on 26 park-like acres just off the George Washington Parkway, adjacent to the Potomac River and the Mt. Vernon Bike Trail. You’re just minutes from Old Town Alexandria—close enough to bike to your favorite restaurants, weekend Farmers Market, or waterfront activities. Residents enjoy resort-style amenities, including rooftop terraces with panoramic views, a large swimming pool, a renovated gym, new tennis courts, picnic areas with grills, a community garden, tot lots, and beautifully landscaped walking paths. The condo fee includes all utilities electricity, water, gas, sewer, trash, and building insurance adding exceptional value and ease to your monthly budget. Additional conveniences include a bus stop directly in front of the building with service to the Huntington Metro (Yellow Line), and quick access to DCA airport for stress-free travel. You’re also walking distance to the Martha Washington Public Library, West Grove Dog Park, the brand-new Mt. Vernon Recreation Center, and Belle View Shopping Center, which offers Safeway, dining, coffee shops, pharmacies, and more. Outdoor lovers will appreciate the nearby marina managed by the National Park Service, offering kayak, canoe, and sailboat rentals. A winning combination of location, amenities, and value don’t miss this opportunity to own in one of Alexandria’s most desirable communities!
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.
