3610 Carolina Ave, Richmond, VA 23222
4 beds · 3 baths · 2,400 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Experience luxury living with soaring 10-foot ceilings and custom finishes throughout this stunning 4-bedroom, 2.5-bath home. The expansive first floor features a massive open living area with coffered ceilings, two gas fireplaces, bold picture frame molding, and elegant crown molding.The gourmet kitchen is a chef’s dream—featuring granite countertops with ceramic tile backsplash, an oversized island, custom soft-close cabinetry, stainless appliances, a dedicated coffee/bar station with wine rack, recessed lighting, and more. Upstairs, the spacious primary suite is a true retreat with a tray ceiling, detailed trim, a generous walk-in closet, and a luxurious ensuite bath complete with a double vanity and a beautifully tiled walk-in shower. The three additional bedrooms are light-filled with ample closet space.The detached 2-car garage is a standout feature, offering style and functionality. Additional highlights include dual-zone HVAC, a tankless water heater, energy-efficient thermal windows, dusk-to-dawn exterior lighting, a privacy fence, covered front porch, stamped concrete walkways, and more!
Source: CENTRALVIRGINIA #2508720
All values shown are estimated costs / mo.
Source: Public records
Source: CENTRALVIRGINIA #2508720
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 of Equal Opportunity Act.