7921 Crescent Park Dr
Gainesville, VA 20155
2 beds · 3 baths · 1,799 sqft
$407,000
Get prequalifiedAbout this home
**VA Assumable open to ALL** 3.5% Welcome to Madison Crescent! This gorgeous main-level condo offers the perfect blend of comfort and convenience in one of the area's most sought-after communities. This spacious townhouse-style layout features two bedrooms, two full baths, and a convenient main-level powder room—perfect for guests. The primary suite includes a versatile sitting area, ideal for a home office, reading nook, or even the potential for a third bedroom. Upstairs laundry is tucked conveniently between the bedrooms for easy access. You'll love the gourmet kitchen, complete with granite countertops, stainless steel appliances and beautiful hardwood floors that flow throughout the main level. Step outside and enjoy the fantastic community amenities, including a pool, tennis courts, clubhouse, and walkable access to nearby shops, grocery stores, restaurants, and more. With easy access to Route 29, commuting and getting around town is a breeze. Don’t miss your chance to call this beautiful home yours!
Source: BRIGHT #VAPW2095882
Financials
Payment details
Loan details
Neighborhood
FAQs
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.
Gainesville, VA 20155
2 beds · 3 baths · 1,799 sqft