11775 Stratford House Pl Apt 412 # 412, Reston, VA 20190
2 beds · 2 baths · 882 sqft
Loacation, Location, Location!! This lovely condo is located across Reston Parkway to the Reston Town Center and all of the fantastic shops and services located in that complex. It has a WALK SCORE of 81 and a TRANSIT SCORE of 58. The unit's OPEN FLOOR PLAN allows you relax in the living area and prepare meals in the galley kitchen and enjoy your meals. The kitchen features stainless steel appliances and granite counter tops. The kitchen has a convenient pantry for storage. There is a "stacked" WASHER/DRYER IN THE UNIT. The main living area features light hardwood floors and HIGH Cathedral ceilings to bring in sunlight. There is a ceiling fan and a gas fireplace in this area. There is a balcony right off the living room that gives you a place to chill and entertain friends. The large primary bedroom has 2 large closets and a connected full bathroom that has been upgraded. Bedroom #2 would be perfect for a roommate, office or playroom/bedroom for kids. The second full bathroom has an upgraded, standup shower and modern sink. There is an ELEVATOR that services all floors in the building, including the parking garage. The main public entrance is on floor #2 and is handicapped accessible from the street. The GATED, UNDERGROUND RESERVED PARKING helps make sure vehicles and people are safe and out of the weather. The unit has a separate storage cage on the garage level. The HOA ammenities include a community pool, exercise room, locker rooms, meeting / party room, office center, and the Property Mng't office.
Source: BRIGHT #VAFX2228696
Source: BRIGHT #VAFX2228696
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.
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