Welcome to this well-maintained 4 bedroom, 3.5 bathroom home with a one-car garage, ideally located on a quiet street in the established community of South Run in Springfield. The main level welcomes you with a bright entry foyer featuring mudroom-style built-in cabinets for everyday organization. To the left, the formal living room provides a comfortable space for relaxing or entertaining, while an additional living area to the right features a cozy fireplace and serves as a central gathering space for the home. The formal dining room connects seamlessly to the updated kitchen, which features white cabinetry, stainless steel appliances, granite countertops, tile backsplash, under-cabinet lighting, and generous storage with pantry-style shelving. Recessed lighting runs throughout the main level, creating a bright and modern feel. A convenient half bath and laundry area with garage access are located just off the living space. Upstairs, the primary suite offers a peaceful retreat with a ceiling fan, walk-in closet with built-in organizers, and a private ensuite bathroom featuring a large shower and dual vanity. The entire upper level features brand new carpet throughout, creating a fresh and move-in ready feel. Three additional bedrooms, all with ceiling fans and closet storage, provide flexible space for family, guests, or home offices. A large linen closet and an additional full hall bathroom with tub/shower combination and granite vanity serve the secondary bedrooms. The finished lower level expands the living space with a spacious recreation room, perfect for movie nights or entertaining, complete with a projector and screen that convey with the home. This level also includes a full bathroom, additional closet storage, and a separate finished storage room providing valuable storage space. Nearby destinations include Springfield Town Center, Kingstowne Towne Center, and Burke Centre, providing a wide selection of restaurants, retail, grocery stores, and entertainment options. Outdoor enthusiasts will enjoy proximity to South Run Park, Lake Mercer, and the Fairfax County Parkway Trail system, offering miles of walking, biking, and recreation opportunities. Commuters will appreciate the home’s excellent access to major transportation routes, including Fairfax County Parkway, I-95, I-395, I-495, and Route 123, making travel to Washington, DC, Fort Belvoir, the Pentagon, and Tysons Corner convenient. The property is also within easy reach of the Franconia–Springfield Metro Station (Blue Line), Virginia Railway Express (VRE), and multiple Metrobus and Fairfax Connector routes, providing flexible commuting options throughout the region.
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.
