11603 Virgate Ln, Reston, VA 20191
4 beds · 3 baths · 3,220 sqft
Fantastic Investment Opportunity in Reston! Welcome to this spacious Dutch Colonial home, offering over 4,000 sq ft of potential. Located in a prime Reston cul-de-sac, on a partially wooded lot, this home is perfect for a savvy buyer ready to add their personal touch. With some TLC, this property will be a stunning gem and a fantastic investment opportunity. The home sits in the highly sought-after South Lakes Pyramid school district, just a short distance from many Reston Association amenities and easy access to Route 28, Dulles Toll Road, Dulles International Airport, and the Herndon Metro Station (0.4 miles!). Plus, enjoy your own personal POOL—a rare find in this neighborhood! This brick-front Colonial with a mansard roof offers 4 spacious bedrooms, 2 full bathrooms, and a convenient powder room. The main level features a tiled foyer with a large double-bifold door coat closet. The oversized living room is complete with hardwood floors, while the formal dining room boasts triple crown molding, chair rail molding, and a modern chandelier. The home offers not one, but TWO family rooms, both with hardwood flooring—one featuring chair rail molding and both with wood-burning fireplaces (one with a stunning brick surround from floor to ceiling). The large kitchen is brimming with potential, featuring ample cabinetry, a gas cooktop on the oversized island, recessed lighting, a large pantry, and double wall ovens. Both the fridge and dishwasher are stainless steel and less than 2 years old! The main level also includes a powder room and an oversized two-car garage, perfect for storage and all your needs. Upstairs, the home originally had 5 bedrooms, but has since been reimagined into a huge primary suite by absorbing one of the original bedrooms. This suite features a sitting room, an extra-large walk-in closet with attic pull-down access, and a spacious bathroom with a dual vanity, built-in shelving, and a large jetted soaking tub/shower combination. The additional 3 bedrooms are generously sized with hardwood floors, and an updated full hall bath features large ceramic tile, a dual vanity, recessed lighting, and a modern tub-shower. Missing the 5th bedroom? No problem! The unfinished loft addition above the garage is already rough-plumbed and features a beautiful skylight. With its own private stairwell access, this space can easily be transformed into a guest suite, home office, or workout studio—the possibilities are endless and most of the heavy lifting is already done for you! The unfinished basement provides even more potential to create the perfect layout for your lifestyle. Other important updates include: vinyl siding on the extra family room and loft addition, a 2-year-old roof on the loft addition/garage, a 3-year-old sump pump, a newer furnace, and a whole-house fan—perfect for keeping utility bills low in the summer months. The pool filter motor is also only 1 year old. With a little TLC and your finishing touches, this home is the perfect opportunity to make it your own and enjoy all that Reston has to offer. The association maintains and operates 15 pools, 54 tennis courts, 55 miles of scenic paved pathways, ball-fields, playgrounds, multipurpose courts, picnic areas, and garden plots. Not to mention this convenient location is just minutes to Safeway, Whole Foods, Reston Town Center, Reston Community Center, Lake Fairfax, Lake Anne, Meadowlark Botanical Gardens, Reston Hospital Center, and Dulles Airport. Quick access to Dulles Access Road, Fairfax County Parkway, I-495, I-66, and Wiehle Metro Station allows you to commute or travel around Northern Virginia with ease. Don’t miss out on this incredible investment—schedule a showing today!
Source: BRIGHT #VAFX2232836
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If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
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Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #VAFX2232836
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.