115 Saddle Ridge Ln, Fredericksburg, VA 22406
4 beds · 5 baths · 5,334 sqft
Prepare to fall in love with this stunning colonial home, perfectly nestled on over 1.6 acres of lush, private land, just minutes from parks, a sparkling swimming pool, scenic walking trails, a prestigious golf course, tennis courts, and nearby wineries! Crafted by the acclaimed Aaronal Homes, the Stoney Creek model is the ultimate blend of sophistication and practicality, thoughtfully designed to meet every need of your family. Step inside to be wowed by an award-winning kitchen, featuring a magnificent Farm Table Island—ideal for meal prep or casual gatherings. The open layout flows effortlessly into a cozy family room with a fireplace, a charming breakfast nook, and a sun-filled Morning Room, creating an entertainer's dream space! The main level also boasts elegant formal living and dining rooms, plus a stylish home office—perfect for remote work or quiet study. Upstairs, your retreat awaits! The expansive primary suite is the ultimate haven, complete with a luxurious bath, while Bedroom 2 enjoys its own ensuite bath. Bedrooms 3 and 4 share a spacious Jack-and-Jill bath with separate areas for maximum comfort and privacy. A large, convenient laundry room completes the upper level. The finished lower level is an entertainer's paradise with a cozy recreation room, a chic wet bar, and a versatile bonus room that could easily be transformed into a 5th bedroom (NTC). Outside, relax on the inviting front porch or unwind on the rear patio with your morning coffee or evening cocktail. With a bonus 1.5 deeded acres of green space, a massive 22x12 shed, and recent price improvement, this property is a true gem. Don't miss your chance to call this beauty home! Must-see property! ***PRICE IMPROVEMENT**
Source: BRIGHT #VAST2035198
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Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Rates and payments are estimates based on public records.
Source: Public records
Source: BRIGHT #VAST2035198
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.
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 “Get Notified” 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 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.