1117 Patrick St, Fredericksburg, VA 22401
3 beds · 4 baths · 2,340 sqft
Get a free consultation call with an expert in the mortgage assumption process.
LUXURY LIVING IN FREDERICKSBURG'S MOST COVETED COMMUNITY RARE OPPORTUNITY: Meticulously Maintained Townhome in Idlewild - Where Location Meets Luxury Welcome to your dream home! This stunning, turnkey 3-bedroom, 3.5-bath townhome in the heart of a highly sought-after community offers the perfect fusion of comfort, style, and convenience. This gem features three finished levels, providing ample space for entertaining and intimate gatherings alike. Inside, discover three spacious bedrooms and three full baths, ensuring a comfortable living experience for all. The entry-level boasts gorgeous new flooring, a full bathroom, and a laundry area, leading to a rear-load 2-car garage. The garage offers secure parking and additional storage space. Step into the open and airy main level, which showcases an inviting family room, an elegant dining room, and a gourmet kitchen bathed in natural light. The upgraded kitchen features modern appliances, abundant cabinet space, sleek granite countertops, a chic subway tile backsplash, and a convenient breakfast bar, making it ideal for both culinary endeavors and memorable entertaining. Just off the kitchen, unwind or entertain on the private, fenced-in deck, perfect for savoring your morning coffee or hosting enjoyable evening gatherings. Escape to the tranquil primary suite on the upper level, complete with a vaulted ceiling, cooling ceiling fan, walk-in closet, and an en-suite bathroom with dual vanities, a luxurious soaking tub, and a glass shower. Two additional bedrooms with closets, ceiling fans, and a hall bath complete this level. Indulge in a wealth of community amenities, including playgrounds, a pool & fitness center, tennis courts, walking trails, sidewalks, common areas, and community festivals, among others. With two neighborhood entrances/exits, you'll enjoy easy access to Rt 1 or I-95. This prime location places you mere minutes from historical Downtown Fredericksburg, Central Park, Mary Washington Hospital, shopping, VRE, and commuter lots. Additionally, Idlewild offers a community shuttle to the VRE and other Fred Transit bus stops. Don't miss your chance to own this impeccably maintained townhome in the most coveted community in Fredericksburg. Schedule your private showing today and experience the unmatched charm and allure of your future home!
Source: BRIGHT #VAFB2007900
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #VAFB2007900
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.
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.
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.
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.
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.