3226 Kensington Ave, Richmond, VA 23221
3 beds · 3 baths · 2,318 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Built in 1919 and conveniently situated on a tree-lined block in one of Richmond’s most iconic neighborhoods, this timeless Museum District detached row house embodies original character with intentional expansions and renovations. Just minutes from Carytown, VMFA, and all the cultural, culinary, and social delights of Richmond city living, this home is an idyllic find. The full-width front porch welcomes you with its professionally landscaped front planting bed and is bordered by stone retaining wall. Light-filled foyer with original quartersawn white oak hardwood floors leads to the spacious living room featuring soaring ceilings, built-in bookshelf, plantation shutters, a decorative mantel, and woodburning fireplace. The floorplan flows effortlessly—ideal for entertaining—into a convenient dining room, a stylish open kitchen with bar seating, and a light-filled sunroom with new flooring and access to half bath. The bright sunroom leads to a private brick and slate patio with privacy fence and alley access, perfect for evening gatherings or quiet mornings. Upstairs, the expansive primary suite offers a secluded retreat with a sitting area, double closets, and a luxurious en suite bath complete with vanity and a Jacuzzi tub. A treetop balcony off the sitting area provides a peaceful escape. Two additional bedrooms, linen closet and full hall bathroom round out the upstairs. The partially finished basement extends entertaining options with access to laundry/utility room and walk-out access to the hidden garden terrace. With 2.5 baths, replacement windows, fresh paint, and over 400 sq ft of finished basement space, this home delivers timeless architecture, modern livability, and unparalleled access to everything that makes Richmond vibrant.
Source: CENTRALVIRGINIA #2510917
All values shown are estimated costs / mo.
Source: Public records
Source: CENTRALVIRGINIA #2510917
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.
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.
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.
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.
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.
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 and Equal Opportunity Act.