**Offer Deadline: 2PM Monday April 13** Located at the end of a private cul-de-sac in sought-after Orange Hunt Estates, this move-in-ready, updated home sits on a flat and private one-third-acre landscaped lot. Bounded to the highly rated school pyramid of Orange Hunt Elementary (walkable), Irving Middle, and West Springfield High. An assumable 2.25% VA loan is available, with an estimated remaining balance of $440,000. <BR><BR> WHAT MAKES THIS HOME STAND OUT? 2,100 square feet of above-grade living space, featuring four well-sized bedrooms upstairs, including a spacious primary suite. The main level includes an updated and open kitchen, a recently (2024) remodeled family room with hand-crafted cedar built-in shelves and gas fireplace, a fully remodeled powder room (2022), and a large storage/utility room. The exterior boasts a covered, screened-in porch, with a patio that leads to an expansive, fenced backyard and an attached carport with secure storage. Lots of other updates, including a newly rebuilt chimney (2026), a recently replaced water heater (2022), a new washing machine (2025), a new dishwasher (2024), and a new refrigerator (2025), as well as a roof and siding replaced within the last 15 years. <BR><BR> WHAT MAKES THIS NEIGHBORHOOD STAND OUT? Orange Hunt Estates is highly sought after for its mature trees, spacious lots, sidewalks, and active civic association (but no mandatory HOA!). Residents enjoy a strong community atmosphere with the option to join three nearby private swim and tennis clubs: Orange Hunt, Cottontail (walkable), and Fox Hunt (walkable). <BR><BR> WHAT MAKES THIS LOCATION STAND OUT? Ideally situated for recreation and convenience, nearby options include South Run Rec Center, Burke Lake Park, Lake Accotink, Hidden Pond Nature Center, and the St James. Dozens of dining, grocery, and retail options are accessible within a short drive. It also serves as a commuter's dream, offering convenient access to the Burke Centre VRE, the Pentagon Express bus, the Franconia-Springfield Metro, and the Fairfax County Parkway.
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.
