Welcome to Unit 203 at The Reserve Condominiums! Effortless Living in the Heart of Manassas Park! This beautifully maintained 2-bedroom, 2-bath condo delivers the low-maintenance lifestyle you've been looking for in a location that continues to grow and improve. With secure building entry, elevator access, and two assigned parking spaces, the convenience starts before you even walk through the door. Inside, you'll find a thoughtfully designed layout with a dedicated living and dining area, granite countertops in the kitchen, and in-unit washer and dryer. The current owners say their favorite room is the kitchen, and it's easy to see why, with its bright and inviting feel. Step out onto your covered balcony, complete with a storage closet, and enjoy the view the sellers say they'll miss most. One of this home's greatest advantages is that your morning commute begins on foot. The VRE station is within walking distance, making this an exceptional choice for commuters. The neighborhood pool, farmers market, and Manassas Park's beloved weekend and holiday community events are just as accessible. The area around The Reserve has seen meaningful additions in recent years. City Hall, the public library, Blooms Park trails, and Signal Bay Waterpark are all close by. B&B Theatres, a luxury cinema and entertainment complex complete with bowling and an arcade, is currently under construction and set to open in the neighborhood in late 2026. For dining and nightlife, NOVA Live, just a short drive away, offers craft beer, a full bar, a full menu, and live music. The HOA covers water, trash, lawn care, snow removal, an on-site maintenance person, and daily janitorial services for common areas. The building association is also actively investing in the property, with common area remodeling currently underway including new carpet, fresh wall paint, and updated door paint. Including the community pool and beautifully maintained grounds, you have everything you need right where you are. The current owners describe their community as safe, friendly, inviting, and family-oriented, and living here as peaceful, quiet, easy, and convenient. A sentiment that's easy to feel the moment you arrive.
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.
