12673 Petersburg St, Chester, VA 23831
5 beds · 4 baths · 4,079 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Executive Home in the Heart of Chester – Private, Custom, Renovated Showplace. Freshly painted throughout the main and second levels, this stunning 3-story, 4,079 sq ft custom-built Wesley Burton home is nestled on a quiet dead-end street in Chester, offering 2.81 acres of privacy and charm. Featuring 5 bedrooms, 3.5 bathrooms, and 3 fireplaces (including one gas), this home blends timeless character with thoughtful updates throughout. The main level boasts formal living and dining rooms with hardwood floors, a welcoming foyer, a spacious family room with built-ins and a gas fireplace, and an oversized eat-in kitchen complete with a peninsula, tile backsplash, and pantry cabinet. A screened porch enhances the home’s warmth and functionality. Upstairs, you’ll find four generously sized bedrooms, including a renovated primary suite featuring a wood-burning fireplace with a classic wood surround and dentil molding. The luxurious en suite includes a walk-in tile shower, double vanity, window for natural light, and an oversized walk-in closet—your perfect retreat. The walk-out English basement adds even more flexibility with a large rec room and wood-burning fireplace, a 5th bedroom or guest room, a full bathroom with walk-in tiled shower, a spacious utility room, and direct access to the back and side yards. Exterior highlights include a paved circular driveway, brick walkways, covered front stoop, patio, and fenced rear yard. You'll also enjoy two garages (20’x40’ with 10’ doors and 20’x24’ with power), four sheds, a luxury chicken coop, fire pit, children’s playhouse, trampoline, and a ready-to-go playground. Recent upgrades include: roof (2020), windows (2016), exterior paint (2021), and fresh interior paint (2025). This home is a rare find—an elegant and private oasis that lives like a year-round vacation. Basement was used for investment purposes as a Short Term Rental and generated approximately $1500/month.
Source: CENTRALVIRGINIA #2508908
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: CENTRALVIRGINIA #2508908
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 and Equal Opportunity Act.