12 Puri Ln, Stafford, VA 22554
4 beds · 3 baths · 2,100 sqft
Discover this beautiful Three-Level Home in Summerwood – No HOA! Nestled on a private lot at the end of a long driveway, this home provides peace, privacy, and ample parking, all with no HOA restrictions! Step inside to find gleaming hardwood floors (2017) and abundant natural light streaming through new windows (2021). The spacious, traditional floor plan includes both formal and eat-in dining areas, a large living room with a cozy wood-burning fireplace, and a well-appointed kitchen featuring stainless steel appliances, upgraded countertops, and a deep sink. Upstairs, the primary suite offers his-and-hers closets and an updated en-suite bathroom, while three additional bedrooms and a second full bath complete the upper level. The finished basement provides even more space, boasting a massive rec room, oversized laundry room, and a partially finished bonus room with endless possibilities. Enjoy outdoor living on the refinished deck, ideal for grilling and relaxing while taking in the serene wooded surroundings. This home is perfectly positioned for commuters, just minutes from I-95, Route 1, VRE, and commuter lots. Major updates include a new roof, gutters, and garage door openers (2022)..
Source: BRIGHT #VAST2037162
Financials
Source: BRIGHT #VAST2037162
Source: Public records
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%. 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.
Other resourcesWhat 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.