1019 Valley Run Dr, Fredericksburg, VA 22401
3 beds · 4 baths · 2,347 sqft
ASSUMABLE MORTGAGE OPPORTUNITY UNDER 4% Welcome to this stunning 3-bedroom, 3.5-bathroom, like-new three-level townhome located in the heart of Fredericksburg, VA! Offering an exciting blend of modern style, this beautifully maintained home features spacious living for your entire family to enjoy. Upon entering, you’re greeted by an inviting foyer area. Adjacent to the foyer, a nicely sized rec room can easily serve as an office, or game night gathering space. A fully finished bathroom with a tub, shower and sink complete the area. The main level features a large kitchen. Gorgeous Granite countertops offer ample space for food prep, and there is counter seating. There is plenty of kitchen cabinet storage for all of your needs. Off the kitchen there is a nicely sized dining room and a separate family room area with stylish custom wall features. A welcoming deck off the family room offers space for your patio items and grill. Upstairs, unwind to 3 nicely sized bedrooms. The primary bedroom offers an luxury en-suite with a walk-in closet, a large walk-in shower and separate oversized tub. There are 2 additional generously sized bedrooms and a full bathroom. Completing the third floor is the laundry room, complete with a sink for added convenience. All of the full bathrooms offer bidets. The two-car garage offers ample parking, additional storage space, beautiful, finished epoxy floors and there is capability of charging Electric Vehicles with the installed infrastructure. The HOA covers lawn and common area maintenance, snow removal, and trash and recycling pickup, for your low-maintenance living needs. Situated minutes from I-95, shopping, hospitals and local parks. This home won’t last long.
Source: BRIGHT #VAFB2007810
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: BRIGHT #VAFB2007810
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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.
How do I qualify for an assumable mortgage?
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.