Set on over two acres, this thoughtfully updated Cape Cod offers a balance of space, privacy, and everyday convenience. Surrounded by mature landscaping and open outdoor areas, the property provides a comfortable retreat with room to enjoy both indoor and outdoor living. Inside, hardwood flooring spans the main level and continues throughout much of the home. The main living areas are bright and inviting. The bright and warm living room opens up right to the wet bar and eat in kitchen. Down the hall you'll find 2 main level bedrooms and a full bathroom. These are perfect for guests or anyone who would prefer avoiding the stairs. Upstairs we have 2 more bedrooms both with a beautiful view of the open front yard. Across the hall we have a full bathroom with a comfortable large tub and separate shower. Head downstairs to find the finished lower level which includes a recreation room and a well lit living area. The lower level has a walk out sliding door directly across from the cozy studio. The studio is the perfect place to step away, stay warm by the fireplace, or just enjoy the weather on the front porch. The other outdoor features enhance the property’s versatility. A deck and patio provide inviting spaces for dining, relaxing, or taking in the natural surroundings. The oversized detached garage is perfect for large vehicles and working on cars. Head upstairs and you'll find the dedicated theater room with built in speakers, projector, and screen. This is also perfect for storage if movies aren't your thing. The home has been thoughtfully maintained and enhanced over time. All three structures have a roof which was installed 3 years ago. The HVAC is 3 years old, water heater is 4 years old, and the windows are double panel windows. Located in Fauquier County, an area known for its scenic landscapes, open spaces. This property presents a unique opportunity to enjoy a tranquil setting while remaining connected to nearby amenities, shopping, and commuter routes. The property also includes two graves near the edge of the property.
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.
