13428 Silver Hill Rd, Sumerduck, VA 22742
4 beds · 4 baths · 2,887 sqft
Imagine starting your day with a hot cup of coffee, relaxing on your deck as you gaze out over green grass in your backyard with a gentle breeze whispering through the trees. Situated on 24 acres of lush, wooded land, this property is the perfect home for those who seek a tranquil escape from the hustle and bustle of daily life. With easy access to US 17, this incredible property affords you the rural retreat you’ve dreamed but also offers a prime location for venturing out to the Blue Ridge and Virginia’s wine country or over to I95 for access to Washington DC and Richmond. This spacious 4-bedroom, 3.5-bathroom gem offers the perfect blend of comfort and luxury. As you approach the house, you're greeted by a charming covered front porch, inviting you to step inside. The two-story foyer welcomes you with hardwood floors, setting the tone for the elegance that lies within. Hardwood flooring continues throughout the main level, creating a seamless and stylish flow. The heart of this home is the well-appointed kitchen, boasting granite countertops, stainless steel appliances, maple cabinets, and an island for both additional storage and seating. The convenient eat-in space allows you to enjoy casual meals with your friends and loved ones. The family room features a gas fireplace, crown molding, and a ceiling fan, making it the perfect spot for relaxation and gatherings. You can easily envision movie nights and warm, cozy evenings in this inviting space. The primary bedroom is your private retreat, complete with plush carpeting, a generous walk-in closet, and an en suite bathroom that's nothing short of luxurious. The en suite features a dual shower and a double vanity, ensuring that your morning routine is both efficient and indulgent. Two additional bedrooms on the upper level are carpeted and equipped with ceiling fans, offering comfort and climate control. They share a traditional hall bathroom that's conveniently located for easy access. The lower level of this home is designed for entertainment and relaxation. You'll find a spacious recreation room with a wood insert fireplace, creating the perfect ambiance for gatherings and celebrations. Additionally, a fully carpeted bedroom and a full bathroom on this level make it an ideal guest suite. As you step outside, you'll discover a beautiful composite deck and a large patio, both of which offer excellent opportunities for outdoor living. Whether you want to host a barbecue, sip your morning beverage while taking in the serene views, or simply bask in the natural beauty of the surrounding woods, this backyard has it all. On the practical side, this home has been well-maintained, with the two outdoor HVAC units being just two years old (indoor units about four years old). The 80-gallon water heater, installed approximately four years ago, is a great convenience for a larger household. You will love living in this rural retreat, make an appointment to see it today! Deck is being repaired with an estimated completion date of April 17th
Source: BRIGHT #VAFQ2010322
Financials
Source: Public records
Source: BRIGHT #VAFQ2010322
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.
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 “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.