2020 Barton Ave, Richmond, VA 23222
5 beds · 2 baths · sqft
Welcome to the grandeur of historic Barton Heights. This home offers lots and lots and lots of space for all of your living, social and relaxation needs and desires. High ceilings throughout. The foyer and all of the rooms feature wood burning fireplaces and wood floors are throughout. First floor has living room, dining room, kitchen, bonus room, mud room, as well as a full bath. Front stair case leads to your second floor bedrooms, the primary has a sitting area that could be used as an oversized walk in closet. Three additional generously sized bedrooms, one of which holds your laundry closet and could be a dedicated laundry room. Off the center hall you have the stairs to your walk up and walk in attic which is partially finished. There is a hidden rear stairway which can be accessed off the mud room or the upstairs center hallway. There is also a partial basement. Rear yard features a two story garage. Rear fence is electronic (will need a new motherboard to function properly). There is so much potential to be enjoyed in this great home, which will be offered as-is. Seller is in process of moving things out of the house. As he progresses more photos will be added .
Source: CENTRALVIRGINIA #2432204
Financials
Source: CENTRALVIRGINIA #2432204
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.