*ASSUMABLE VA LOAN FOR A VETERAN AT 3.75% INTEREST RATE* Ask agent for details! Welcome home! This charming colonial with great curb appeal is located on a quiet cul-de-sac in the highly desirable neighborhood of Cherry Run, in the heart of Burke. It has 3,500+ square feet on a .25 acre lot with a NEW FULL BASEMENT APARTMENT WITH A WALKOUT PATIO! The five bedroom, 3.5 bath home is a real gem with a floor plan for entertaining and easy everyday multi-generational living! It has been meticulously maintained with details you will appreciate. From your beautiful covered front portico, step inside and be greeted by beautiful refinished hardwood floors throughout the main level and custom millwork, leading to a formal dining room opposite a formal living room. Continue to the family room, which is centered around a new gas fireplace with brick surround, open to the kitchen and newer rear deck. The eat-in kitchen features granite countertops, stainless-steel appliances and neutral cabinets with a tile backsplash. Upstairs the primary suite has a generous sized bedroom, two closets and a neutral bath with walk-in shower. Three additional bedrooms on this level, another neutral full bath and... third level laundry! On the lower level you’ll find a fully finished basement apartment with a bedroom and a full bath w/walk-in shower, a rec room/living area, full kitchen and second laundry space. Phenomenal potential for a rentable basement apartment, in-law or au pair suite. There is also a sizable unfinished storage area for all of your things and hobbies. Outside, enjoy the fully fenced yard with a HUGE shed and several entertaining spaces. Plenty of space for a garden too! Plus, a two car garage and private driveway for extra parking. You will love the bright, cheerful rooms and the abundance of windows that allow natural light and seasonal enjoyment any time of year! It checks all the boxes for a forever home! Enjoy easy access to Burke Lake Park, Fountainhead Regional Park, and two public golf courses - Burke Lake & Laurel Hills are nearby. Cherry Run Elementary and Lake Braddock Secondary school make this home very desirable. The peaceful charm of the Historic Town of Occoquan, the Occoquan Reservoir and the beauty of the Virginia countryside are all just also short drive away. The community enjoys convenience to commuter corridors of I-95, Route 66, Route 123, and the Fairfax County Parkway; and public transportation including commuter lots with access to the Pentagon Express Bus, METRO, VRE, etc. Burke is a FANTASTIC place to live, with highly rated schools, easy access to modern amenities, lots of green spaces and quiet suburban living! Furnace (2021), Roof (2011), Hot Water Heater (Newer), Fireplace (2024), Basement Apartment/Egress/Patio/Deck (2021), Rear yard Stone Walkway (2023), Windows (2018) and more!
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.
