Entertainer’s Paradise in Sought-After Villamay!! This sprawling home offers an extraordinary blend of refined interior living and resort-style outdoor entertaining in one of Alexandria's most desirable neighborhoods. Set behind mature landscaping and a manicured front hedge that provides exceptional privacy, the property showcases stately, classic curb appeal and a welcoming presence. A wide foyer entry welcomes you with new timeless slate tile flooring and coat closet with additional hidden storage, along with a conveniently located powder room. The gracious living and dining rooms are perfect for entertaining with built-in sideboard buffet in the dining room located just off the kitchen. The gourmet kitchen is appointed with white cabinetry, stainless-steel appliances, granite countertops, island with bar seating and travertine flooring and opens effortlessly into the heart of the home, a dramatic family room featuring a stunning travertine wood-burning fireplace, soaring cathedral ceilings, and skylights that flood the space with natural light! Step outside to a truly spectacular one-of-a-kind setting. The expansive hardscaped paver patio wraps around the sides of the home, creating a private, resort-style retreat complete with an outdoor kitchen/BBQ and seating area just outside the family room. A few steps lead up to the impressive rear paver patio featuring a gorgeous stone fireplace and bar with seating for eight —all surrounded by brick privacy walls with exterior lighting and landscaping, creating the perfect backdrop for entertaining on any scale. The upper level features four spacious bedrooms, including an expansive primary suite that has thoughtfully incorporated one of the adjacent bedrooms as a private nursery, office, or dressing room. The primary bath has been recently renovated from top to bottom with double sink vanity and beautiful finishes. An additional bedroom features a built-in Murphy bed, offering versatility for guests or workspace. A renovated hall bath serves the remaining bedrooms. Additional highlights include a large walk-in cedar closet in the primary suite, pull-down stairs to a floored attic storage, three-zone HVAC, two-car garage, rear storage shed, combination washer/dryer, an irrigation system, and exterior drainage system. Recent Upgrades Include: Fully renovated primary bathroom, New light fixtures, New interior stair railings, New foyer slate tile floor, brand new double oven, newer dishwasher, Hot water heater (2022); refinished wood floors, neutral paint throughout. A rare opportunity to enjoy timeless style, privacy, and exceptional indoor-outdoor living just minutes from Old Town Alexandria!! 1.4 mile to grocery shopping, convenience stores, restaurants and more!! Stroll to parks or bike on the Mount Vernon Bike Trail. Easy commuting to Pentagon, DC and Fort Belvoir. Huntington Metro 3.3 miles, National Airport 8 miles.
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.
