402 Cabin Ct, Stafford, VA 22554
2 beds · 3 baths · 2,074 sqft
This updated townhome with garage (+ storage!) offers a perfect blend of style and convenience. Neutral paint enhances the bright and inviting atmosphere throughout. The kitchen is complete with updated countertops, stainless steel appliances, and a functional center island with storage. An open-concept living and dining area provides an ideal space for entertaining, complemented by an updated powder room on the main level. Step outside to a fully fenced backyard with a deck—perfect for relaxing or hosting gatherings. The upper level offers two generously sized bedrooms with ample closet space, while the renovated full bath features a wide vanity and striking floor-to-ceiling tiled tub surround. The lower level offers the third bedroom (not to code) with fireplace, luxury vinyl flooring, a full bathroom with a walk-in shower, a dedicated laundry area, and extra storage. Centrally located just minutes from Quantico, commuter routes including I-95, US-1, and the VRE, this home offers easy access to shopping, dining, entertainment, parks, schools, and medical facilities. Surrounded by the Potomac and Rappahannock Rivers, outdoor enthusiasts can enjoy boating, fishing, and scenic beauty. Plus, historic Downtown Fredericksburg is just a short drive away. Don’t miss this incredible opportunity! HVAC replaced 2024. Sellers need rent back through May 24th.
Source: BRIGHT #VAST2036384
Financials
Source: BRIGHT #VAST2036384
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.