14518 Shipborne Rd, Midlothian, VA 23112
4 beds · 4 baths · 4,349 sqft
Welcome home to this beautifully maintained property, nestled in a sought-after neighborhood with top-tier community amenities. As you drive up the stamped concrete driveway, you’ll appreciate the spacious garage and inviting curb appeal of this contemporary colonial, featuring a charming blend of vinyl and stone siding. Step inside to discover an open and airy floor plan with gleaming wood floors throughout. The two-story foyer greets you with a sense of grandeur, and the home offers abundant living space on every level, including a fully finished basement with a full bathroom. This expansive lower level is a true highlight, offering endless possibilities for a home theater, gym, game room, or whatever suits your lifestyle. On the main floor, you’ll find a versatile front room that can easily serve as a sitting area or home office. Adjacent is the formal dining room, perfect for entertaining guests. The kitchen flows seamlessly into the family room, where a cozy fireplace takes center stage, surrounded by large windows that bathe the room in natural light. A secondary dining nook or sitting area is located just off the kitchen, offering a peaceful spot to enjoy the serene views of the backyard. Step through the sliding doors onto the screened-in back deck, an ideal spot to unwind or entertain while enjoying the gentle breeze and privacy of your property. The deck leads to a patio complete with a fire pit, designed with a built-in drain for easy maintenance and cleanup. This bird watcher's paradise includes a sprinkler system will keep your outdoor space green and easy to maintain. Upstairs, you’ll find four spacious bedrooms, including a luxurious primary suite featuring a spa-like en-suite bathroom, offering a private retreat after a long day. Do not miss this 4,348 total square feet of an ideal home
Source: CENTRALVIRGINIA #2501609
Financials
Source: Public records
Source: CENTRALVIRGINIA #2501609
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.