18039 Red Mulberry Rd, Dumfries, VA 22026
3 beds · 4 baths · 2,544 sqft
This is a McPhearson Grand Townhome! That means you get 2500 square feet of finished living space plus, the coveted rear-covered enclosed porch with a fireplace and a two-car rear-loading garage! This home is only five years old and features an open-concept design with LVP flooring on the main and upper bedroom levels and hardwood stairs with iron rails! The beautiful gourmet kitchen has espresso cabinets, a large center island with white quartz counters, a modern white backsplash, and, stainless appliances. Walk through the double sliding glass door to your soon-to-be favorite place to download your day, chat on the phone, or kick back with friends and a glass of wine! The rear covered porch has a 3-season glass enclosure with screens open, for cross ventilation on beautiful days. There is an outdoor gas fireplace to heat and enjoy all year round! Head upstairs to the upper level, which features a spacious primary suite with a large walk-in closet, a luxury bathroom with a soaker tub, a large shower, and a separate water closet! There are two ample-sized secondary bedrooms, a full bath with dual vanity, and a convenient laundry room. The lower level features a recreation room full of natural light, a full bath, and access to the garage with a built-in drop zone for coats, shoes, etc in the lower level rear foyer.. The park-like setting out front sets this home apart, with a large common area. This home is three-quarters of a mile to the future town center and about a quarter-mile walk to the newest community pool. Potomac Shores is an amenity-filled community with pools, multi-purpose courts, playgrounds, community gardens, hiking trails, a recreation facility with a full-size gym and movement rooms, collections, and Jack Nicklaus's signature golf course. The Shores Club is the heart of the community and is where all the social functions happen. The community has a very active social calendar with events for all residents. You will find classes, clubs, meetups, movie nights on the lawn, and more. Professional photos are coming soon. HOA Fee includes 150/150 internet, trash, snow removal, trails, three pools, a gym, access to The Shores Club, and all resident-sponsored social events.
Source: BRIGHT #VAPW2088278
Financials
Source: BRIGHT #VAPW2088278
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.