Nestled in the serene community of Quail Meadows in Spotsylvania, VA—with NO HOA—this charming 4-bedroom, 2 full bath ranch-style home offers the perfect blend of comfort, space, and functionality. Boasting 2,380 square feet of thoughtfully designed living space, this home is packed with major recent upgrades that truly stand out. Big-ticket updates completed in 2024 include a NEW roof, NEW HVAC system, NEW water heater, and the addition of a water treatment system—giving peace of mind for years to come. In 2021, all windows were replaced throughout the home, adding even more value and efficiency. Other items upgraded were the electrical and the plumbing and the kitchen and bathrooms were remodeled. Inside, you’ll find an inviting open floor plan that seamlessly connects the kitchen and dining areas—ideal for both everyday living and entertaining. The country-style kitchen is a standout feature, complete with an island, pantry, and modern appliances including a built-in microwave, dishwasher, and electric oven/range. A dedicated laundry area with washer and dryer adds everyday convenience. The entry-level bedrooms offer easy accessibility and flexibility, while the cozy family room just off the kitchen creates the perfect space to unwind. The layout also includes a dedicated in-home office, ideal for remote work or additional flex space. Step outside to your own private retreat—set on a generous 1.2-acre lot backing to mature trees. The level, open yard provides endless possibilities for outdoor enjoyment, whether it’s gardening, playing, or simply relaxing in nature. An extra-wide gravel driveway accommodates up to four vehicles, making parking easy for you and your guests. Additional highlights include a partially finished basement with walkout stairs, newly added sidewalks, and a concrete patio area perfect for grilling, a fire pit, or gathering with friends and family. This isn’t just a house—it’s a place to call home, where comfort meets convenience and memories are waiting to be made.
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.
