3409 Wilson Blvd # 703, Arlington, VA 22201
1 beds · 1 baths · 720 sqft
VA Assumable Loan is available at 3.375! This charming one-bedroom, one-bathroom condo in Arlington is the perfect blend of comfort, style, and convenience. Step into a beautifully designed kitchen, equipped with stainless steel appliances and a spacious island that’s perfect for creating delightful culinary experiences for your loved ones. Whether you're cooking up a casual meal or hosting a dinner party, this kitchen offers all the space and tools you need. The location is unbeatable, giving you seamless access to the best dining, nightlife, and entertainment in both Clarendon and Ballston. Whether you’re in the mood for a casual coffee, a fine dining experience, or a night out with friends, everything you need is just around the corner. Commuting is a breeze with proximity to Virginia Square-George Mason University Station, Clarendon Station, and Ballston Station, making it easy to navigate the entire Arlington area and beyond. Situated just blocks from Clarendon’s lively vibe and minutes from George Mason University, you’re truly at the heart of it all. Experience a life of convenience, surrounded by Arlington’s finest restaurants, shopping, and nightlife. This condo offers everything you need to live your best life.
Source: BRIGHT #VAAR2054594
Financials
Source: Public records
Source: BRIGHT #VAAR2054594
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.