8111 Oaklake Ct, Alexandria, VA 22309
4 beds · 3 baths · 2,112 sqft
Don’t miss this great 4 bedroom, 2.5 bath, three-level townhome in Pinewood Lake that comes with more than 2,100 square feet—and yet—is still priced below $500k! A rare find in Alexandria at this price point, this home even has a gorgeous lake view from the back patio! A smart buyer will scoop this one up quickly, and with some updates, will have a beautiful and spacious home to enjoy. Few townhomes are available in this price range, so interested parties put offers together quickly. Enter on the lower level where you find the first bedroom (also great as a home office) with a half bathroom, and a large recreation room that leads out to the back patio. With eastern exposure, the patio area offers outdoor space for grilling, catching some rays, and giving your pet(s) some fresh air while enjoying the lake view. On the front side of the home is a small grassy area and two off-street parking spots. The second level is the main living space that includes a separate dining room, living room, and kitchen. You’ll then find three additional bedrooms and two full bathrooms on the top floor, including a primary bedroom with ensuite bath. Association amenities include a pool, playgrounds, and dog park, and it’s close to nature trails, including those in Huntley Meadows Park, Fairfax County’s prized nature preserve. And it’s not far from Potomac River bike and nature trails as well. This Alexandria location also is central to many conveniences. Nestled between Hybla Valley and Woodlawn, Richmond Highway is less than a mile away, and Fort Belvoir’s Tulley Gate is just 5 miles away. Retail opportunities abound as well, with Wegmans, Costco, Aldi, Walmart, Home Depot, restaurants, and more, all within a very short drive. And charming Old Town Alexandria is just eight miles away. Showings begin at noon on May 30.
Source: BRIGHT #VAFX2241264
Source: BRIGHT #VAFX2241264
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 620, 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.
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.
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.
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