*Don't Miss this Beautiful Brick-Front 5 Bedroom, 3.5 Bath Home in Sought-After Broad Run Oaks* It is situated on a professionally landscaped lot that backs to woods for privacy. This 4100 sq ft home features 3 finished levels. The main level offers a 2-story foyer, library w/ french doors, family room w/ gas fireplace & mantle and built-in bookcases, formal living & dining room w/ crown molding and light-filled sunroom w/ vaulted ceiling. The gourmet kitchen has an island, built-in desk area, 42" white cabinets, quartz counters, tile backsplash, gas cooking, pantry and breakfast room. Additional options include 9 ft. & 10 ft. ceilings, dual entry stairwell, custom 2-level chairlift that can be removed by sellers install company, recessed lights, tilt-in windows, ceiling fans and plantation shutters. The owners suite boasts a vaulted ceiling, sitting room, walk-in closet and luxury bath w/ walk-in tub and large separate shower w/ seat & frameless glass, dual vanities and a water closet. There are built-in bookcases and a desk in one of the upper level bedrooms. The basement has been finished with an upgraded top of the line "Owens Corning Basement Finishing System" and offers a huge 5th bedroom, game room, rec room, utility room and a full bath with dual entry. Exterior upgrades include an inviting front porch, a gorgeous stamped concrete patio w/ walkways that lead to the front of the home, a lawn sprinkler system for the entire yard, decorative wood privacy fence and a 2-car garage. The HVAC unit and 75-gallon hot water heater are newer, the Roof was replaced Sept 2018 and Leaf Filter Gutter Guards were installed in 2019 and have a lifetime warranty that transfers to the new buyer(s). Ring doorbell conveys. Commuters Dream Location- Mins to I-66, the commuter parking lot and commuter rail station. Low HOA Dues. A Must See!
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.
