Welcome to this beautifully updated three-level Colonial in the gated community of The Laurels, offering rare privacy, thoughtful upgrades, and standout outdoor living. Tucked at the end of a long private driveway and set back from the road, the home features manicured landscaping, a two-car side-loading garage, and an extra-wide driveway for ample parking. Inside, a light-filled two-story foyer opens to hardwood floors, oversized windows, and a functional layout with formal living and dining spaces, a sitting area, and a spacious kitchen that flows into the family room. The kitchen is equipped with a large island, stainless steel appliances, cooktop, double ovens, and an eat-in area—ideal for everyday living and entertaining. The outdoor space truly sets this home apart. A Trex deck overlooks the flat, fully fenced backyard and is enhanced by a custom covered and screened addition (2023) with a finished wood ceiling and electrical—perfect for relaxing or hosting. The deck leads to a custom paver patio with built-in seating and lighting, plus a dedicated propane line for grilling and a storage shed for added convenience. Upstairs offers four generously sized bedrooms, including a spacious primary suite with vaulted ceilings, walk-in closet, and a private bath with soaking tub, separate shower, and double vanity. The fully finished lower level adds a large recreation area, walk-up access to the backyard, and two versatile bonus rooms for guests, office, or gym. Additional highlights include plantation shutters, updated lighting, fresh paint, stainless steel appliances, dual HVAC systems (approx. 2020), and a new hot water heater (2025). Residents of The Laurels enjoy gated access, a stocked lake, neighborhood park, and a peaceful setting with convenient access to I-95, Route 3, the VRE, and Fredericksburg. The nearby Kalahari Resort adds even more appeal just a short drive away. A rare combination of privacy, space, and upgraded indoor-outdoor living—now offered at an improved price.
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.
