2446 Battery Hill Cir, Woodbridge, VA 22191
4 beds · 4 baths · 2,380 sqft
This beautifully maintained 3 level townhome is the gem of sought after Villages of Rippon Landing. Newer HVAC(2023) for worry less living. The airy and open interior features durable laminate floors, crown and chair moldings, plenty of recessed lighting, oversized windows at the front and stunning arched windows at the rear to let the natural light cascade in, and a fresh neutral color palette throughout ready for your personal touches. The gourmet eat-in kitchen is a chef’s dream with extra high ceilings, stainless steel appliances, island with breakfast bar, and flows effortlessly to a formal dining/living area ready for weekend gatherings or a cozy night in next to the double sided fireplace. The spacious primary bedroom with vaulted ceilings, expansive walk-in closet and en suite bathroom with oversized soaking tub shares the upper level with 2 additional generous bedrooms and another well-appointed bathroom. Fully finished multi-tier walkout basement with a full bathroom, rec room and separate den/flex room perfect for an office or another private living space offering income/in-law potential. Spend countless afternoons getting away from it all in your private fenced backyard with a composite deck and large brick patio overlooking a peaceful wooded area. Just minutes to shopping, dining, entertainment and major commuting routes. Simply Pristine!
Source: BRIGHT #VAPW2085814
Source: BRIGHT #VAPW2085814
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “Save search” 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 620, 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.