3735 Camelot Dr, Annandale, VA 22003
5 beds · 3 baths · 2,830 sqft
In one of Northern Virginia’s most desirable neighborhoods, Camelot. This beautifully updated home is stunning and sure to impress! Starting with the remodeled kitchen, upgraded cabinets, state of the art appliances and gorgeous countertops with LVP floors, The family room with a cozy fireplace and living room are open and airy with hardwoods and fresh; modern paint throughout. This 4-bedroom, 2.5-bathroom gem offers both style and comfort. Don't miss the 3 season room of the kitchen & family room. The primary bedroom offers his and hers walk- in closets. The spacious layout features a two-car garage, an enclosed/4 season porch, and a Trex deck—perfect for outdoor relaxation. The 5th bedroom is on the lower level and great for those who want additional privacy. Recent roof, hardiplank siding, windows, driveway & appliances. All this Plus; the community amenities are second to none, with a pool, tennis courts, and scenic nature trails to enjoy. Conveniently located less than half a mile from Camelot Elementary, this home offers the perfect blend of convenience and charm, you'll also be close to the popular Mosaic District with shopping, dining, and entertainment options, as well as Inova Fairfax Hospital - Truly, Don’t miss out on this incredible opportunity! 5th bedroom in lower level does have an egress with a door that seller is using as a guest room.
Source: BRIGHT #VAFX2229394
Financials
Source: BRIGHT #VAFX2229394
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.
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