Assumable 2.5% VA loan for qualified buyers!! OPEN HOUSE, SUNDAY APRIL 26, 1-4pm This 4600 SF brick-front colonial, nestled on a quiet cul-de-sac in the sought-after Barrington neighborhood, offers 5 spacious bedrooms and 3-1/2 bathrooms. The home welcomes you with a striking vaulted foyer and features 9-foot ceilings throughout the main level, creating an airy and open atmosphere. Enjoy a fully finished walkout lower level that provides additional living and entertainment space, while the fantastic outdoor areas include a deck with its own retractable awning and a patio complete with an outdoor kitchen—perfect for gatherings and summer barbecues. With its blend of architectural elegance, generous layout, and exceptional indoor and outdoor amenities, this residence is ideal for comfortable family living and entertaining guests. The main level is highlighted by hardwood floors and refined woodwork in the foyer, study, living room, and dining room. The gourmet kitchen features expansive windows above the sink, a bay window in the breakfast nook, an island equipped with a gas cooktop, granite countertops, and a roomy pantry. Adjacent, the cozy family room offers a brick fireplace and an atrium door that opens to the deck. Upstairs, you'll find a spacious primary bedroom suite with a vaulted ceiling, a large sitting area, an oversized walk-in closet, and a private attached updated bath with heated floor. There are three more bedrooms on this floor, plus an updated full hall bathroom. On the lower level, there's a huge rec room with a wet bar, a media room separated by sliding pocket doors, a fifth bedroom, a full bath, deep full-sized windows, and French doors leading out to the patio. The Barrington community features meticulously designed residences situated on premium home sites, complemented by amenities such as an outdoor swimming pool and direct access to the Fairfax County trail system. Three locations within the neighborhood offer paved paths for jogging, biking, and walking that connect to Burke Lake, Lake Mercer, and the South Run Recreation Center. Additional conveniences include proximity to the Workhouse Arts Center, George Mason University, and the historic towns of Clifton, Occoquan, and Fairfax for excellent shopping, entertainment, and fine dining opportunities. Major commuter routes including I-95, Route 66, Route 123, and the Fairfax County Parkway, plus nearby metro and VRE stations in Springfield, Burke and Lorton facilitate easy travel to Washington, D.C. and throughout northern Virginia. This home is served by Fairfax County Public Schools’ Silverbrook Elementary, South County Middle and South County High Schools.
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.
