*SERENE*PRIVATE OASIS*ZEN PARADISE...A Rare Gem, here's your chance to own a truly special Colonial Single Family Home in desirable Hampton Oaks neighborhood. Artfully and stylishly designed, every thought was put into each detail of the home with eye-pleasing neutral paint throughout. Main Level Features: Formal Living and Dining Rooms with expansive newer Windows, Cozy-Relaxing Family Room with a gas fireplace, updated Kitchen with Stainless Steel Appliances, and access to the Back yard Deck from the Breakfast area makes this the perfect space for entertaining....and as a added Bonus, the Backyard is fully fenced. Upper Level Features: Four large Bedrooms each with their own ceiling fans including a Primary/Main Bedroom Suite with a large Walk-In Closet, and En-Suite with "love to soak" tub and separate Shower. With Three Guest Bedrooms, you have the perfect opportunity to create a private home office, while still enjoying two additional bedrooms for family and guests. The expansive Lower Level presents endless possibilities to design the space to fit your lifestyle—envision a media room, a full gym, or even a luxury pet spa/bath…endless possibilities await. This home is complete with a two-car garage, providing a perfect “home” for your vehicles. Returning to the fenced in Backyard, you will step into a true gardener’s retreat, featuring mature fig trees, dwarf apple trees, grapevines, raspberries, and strawberries—all thriving in abundant sunlight, with plenty of space for a vibrant vegetable garden. A thoughtfully designed pollinator garden enhances the natural beauty, while an in-ground vermiculture (earthworm) composting system supports sustainable living. The rain barrel also conveys, making this outdoor space as practical as it is charming. *Room sizes are estimated by Professional Photographer Floorplans/Drone Photography/3 D Matterport are available. *Please Note Under Documents in Bright MLS, you can find the Home Enhancements List documenting the numerous improvements. And the ideal Location? This home is a commuters dream- easy access to I-95/EZ Pass lanes, Quantico Marine Corp Base, commuter lots and a short drive to the VRE train station.
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.
