12717 Gordon Blvd Apt 124 # 124, Woodbridge, VA 22192
2 beds · 2 baths · 1,014 sqft
Welcome to the Moorings of Occoquan. Enjoy a spacious two-bedroom condo located on the coveted top floor, a short distance to Historic Occoquan, close to commuter lots, and the beautiful parks at Occoquan River. The kitchen has updated cabinetry, new LVP flooring, and stainless appliances. The living area is bright and opens to the covered deck that can be enjoyed throughout the year. A short distance to take in the river sights or the community pool in the summer. This home has been well maintained and updated. Both bedrooms enjoy ample closet space as well as natural light. The main bedroom has a half bath that is nicely appointed and spacious. Don't miss this opportunity to own a very sought-after location with a tranquil, must-see setting that you are sure to love! Condo community currently doesn't allow investor purchases.
Source: BRIGHT #VAPW2088094
Source: BRIGHT #VAPW2088094
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.