Own a piece of secluded paradise with panoramic views that serves as a gateway to much of what Virginia has to offer. Centrally, less than an hour to: Northern Virginia, Fredericksburg, Lake Anna, Charlottesville, Orange, the Shenandoah, Blue Ridge parkway, Luray caverns, Front Royal, Middleburg, plethora of wineries/breweries. The property itself is over 22acres with a list of features that keeps on going. This is the type of generational property that rarely comes to market. The house was custom built and inspired by the original owners time stationed in Germany with the US Army. This includes a German imported tiled fireplace/oven (Kachelofen) to serve as the focal point for the main floor. There are multiple custom small touches: sunlights in the main kitchen and stairwell, wood beams, bespoke light feature on the staircase, custom built storage in the laundry / mud room, built in bookshelves in the basement apartment / in-law suite, paver patio, multiple decks, custom landscaping out front with a pond. This house enables a wide range of possibilities and can be easily adapted to meet the next owners needs. Possibilities include a home, small farm (has been a small cattle ranch and hay farm), horse property, home/business combo (previously home to a coffee business), recreational property, air bnb, multi-generational property or possible additional rental income with dedicated driveway/entrance to a basement apartment with full kitchen and bath. Has a main floor primary bedroom with private entrance and newly renovated primary bath. This enables 2 different levels of single level living possibilities. Upstairs has two bathrooms with access from several bedrooms (an owner used one set as a Primary Suite due to the picturesque views). Multiple out buildings enable plenty of storage and uses for the property. A 2 car garage that boasts a finished 2nd floor workshop with balcony and ac/heat unit. A 1 car garage with work space currently converted into a blacksmith shop with 220/30 and ac/heat unit. A barn/workshop with full loft and behind it a tack room. Additionally, a 3 stall run-in barn. Outside 5+ acres of woods to explore, with Duncan Run, a year-round creek, that runs through the property. Established cherry blossom tree, dog woods, weeping cherry tree. Perennials to look forward to every year: daffodils, iris, peonies. From the top of the ridge provides views of Old Rag and the Blue Ridge parkway. The topographical layout of the property makes for amazing views of the stars and occasional views of the Milky Way with the naked eye but still just over 10mins from shopping and dining in Culpeper or Warrenton. The property includes history of the area: a number of huge 200ish year old trees, stone remains from an early 1700s house, an old two story stone chimney, and artifact hunting. Previous findings of old pottery, nails, glass, beads, and more. It is rumored that the New Orleans Calvary wintered on the property during the civil war. Just up the road is the American Revolutionary era church of Little Fork. This RA (rural agriculture) zoned property qualifies for the agriculture tax break if in use per the qualification requirements. There is currently high speed Internet via Comcast Business. No HOA. The area boasts a volunteer fire department just down the road that includes one of Virginia's few large animal rescues. It is also just minutes away from the South Wales golf course. If you ever wished for amazing middle of nowhere views but still have easy access to modern amenities this is the rare home that will enable you to have both.
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.