NO NEED TO COMPROMISE with this Manassas area gem-- it is truly the perfect balance of QUALITY and QUANTITY!! *** OVER 4000 SQUARE FEET of living space inside... AND even more outside ***In 2024, caring owners replaced most WINDOWS.... new siding and gutters... and fully finished the lower level, expanding the LL Family Room... and other updates!!This beautifully updated home features five bedrooms and three and a half baths. The main floor has hardwood floors throughout. Office with glass-panel French doors, built-in shelving and cabinets, and recessed lighting. The living room is filled with windows, and the separate dining area offers a bay window overlooking the backyard, ceiling lighting, and direct access to the kitchen. The kitchen includes custom cabinetry, granite counters, a breakfast bar, stainless steel appliances, gas cooking with dual ovens, a writing desk, a pantry, and table space with a sliding glass door that opens to an oversized, two-tier deck. The family room has a gas fireplace and lots of natural light. Laundry Room with a full-size washer and dryer, utility sink, and entry to the two-car garage. The massive master suite is complete with a gas fireplace, a sitting area, three closets, and an updated master bath featuring double sinks, a soaking tub, and an oversized frameless shower. Three additional bedrooms and a hall bathroom with shower/tub combo. There is a 5th Bedroom, recreation room, spacious den, storage room, and a full bathroom on the lower level that leads to the fenced patio. The deck features stairs, a built-in bench, and pergola, opening to a spacious and beautifully landscaped fenced yard and patio. Community amenities include basketball courts and tot lots. The property is conveniently located near Old Town Manassas, shops, restaurants, VRE commuter rail, and much more. MUST SEE THIS BEAUTY THAT CHECKS SO MANY BOXES!!!
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.
