8248 Hampton Arbor Cir
Chesterfield, VA 23832
6 beds · 3 baths · 3,475 sqft
$549,950
Get prequalified8248 Hampton Arbor Cir
Chesterfield, VA 23832
6 beds · 3 baths · 3,475 sqft
$549,950
Get prequalifiedHAMPTON PARK!!! Assumable FHA mortgage. What an amazing neighborhood and this is a large 6 (SIX) bedroom home! There's 5 bedrooms on the second floor and a bonus 6th bedroom (or REC Room) up on the 3rd floor. Beautiful Brick Front Elevation with a rear load attached 2 car garage (a little larger than most at approximately 22'x22'). The main floor features hardwood floors throughout and has a 1st floor office setup with glass french doors and crown molding. There's also still a formal living room AND formal dining room AND eat-in kitchen. The formal living room and formal dining room both have 3-piece crown molding. The dining room has picture frame molding. The kitchen is fully equipped with breakfast bar, pantry, ceramic backsplash, and granite countertops. Wide open kitchen to the family room and a great/peaceful view out to the backyard. Large deck ready for grilling and entertaining. Upstairs you'll find the 5 bedrooms. Primary suite is extra spacious and features 2 large walk-in closets, 2 split vanity cabinets in the en suite bathroom, a separate tub and shower, and a linen closet. Bedrooms 2 and 3 have a large closet. Bedroom 4 has a walk-in closet. Bedroom 5 is HUGE and would make for another great entertaining room (movie watching room) and has 2 large closets. And then finally up on the 3rd floor is approximately 30'x20' of BONUS space. All this plus a terrific backyard for kids, pets, and/or guests....an extra large detached shed....AND all the amazing amenities of the Hampton Park neighborhood with quick access to Swift Creek YMCA and all the local resturants, shopping, and conveniences nearby.
Source: CENTRALVIRGINIA #2517732
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.
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