MINT CONDITION*** Welcome to this beautiful garage townhome in the Village at Gum Springs. This home is tucked away on a quiet cul-de-sac and offering 3 bedrooms, 2 full baths, and 1 half bath across 4 finished levels with a den and approximately 1,578 square feet of well-designed living space. This townhome is in move-in ready! Step inside to a bright, open layout filled with natural light. The main level features a seamless flow between the living and dining areas, creating a comfortable and functional space for everyday living. Laminate floors! The eat-in kitchen is a standout, featuring stainless steel appliances, custom cabinetry, and a modern design, with direct access to a beautiful deck with shaded tent area and a fenced yard—perfect for outdoor living and entertaining. Step outside on your well-crafted deck that elevates everyday living and effortless entertaining. Upstairs, the primary suite includes an en-suite bath, while the additional bedrooms and bathrooms provide flexibility and convenience across the upper levels. The 4th level unveils a truly inviting bonus space - an elevated retreat that offers exceptional versatility to suit your lifestyle. Whether envisioned as a private home office, a serene guest suite, a vibrant playroom, or an inspiring creative studio, this thoughtfully designed level adapts effortlessly to your needs. Filled with natural light and set apart for privacy, the space provides a sense of calm and separation from the main living areas. Its unique positioning creates an ideal setting for both productivity and relaxation, offering endless possibilities. The finished lower level adds valuable living space with a recreation area, laundry, and walkout access to the backyard. The outdoor space truly feels like a private oasis, with beautiful landscaping that creates a peaceful and inviting setting. A one-car attached garage adds everyday convenience. Lots of additional storage - insulated attic nook & extra unfinished closet! Conveniently located along Route 1 and in very close proximity to Old Town, this home offers easy access to DC, National Harbor, MGM, Old Town Alexandria, Fort Belvoir, and the Huntington Metro Station. It’s also close to Mount Vernon Plaza, Mt. Vernon Hospital, and multiple bus stops, making commuting and daily errands simple. With four levels, a functional layout, and a desirable location, this home offers space, comfort, and an unparalleled value in Alexandria.
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.
