407 Apricot St, Stafford, VA 22554
4 beds · 3 baths · 1,952 sqft
Discover Your Dream Home in Embrey Mill Welcome to a stunning opportunity in the heart of the highly sought-after Embrey Mill community in Stafford, Virginia! This motivated seller is offering an incredible $5,000 in seller concessions and has already paid off 10 years of a 30-year bond, making this charming home an irresistible deal. This beautiful Brookfield home is located in phase 1. Exceptional Features and Amenities Step into this beautiful home where elegance meets functionality. The open floor plan features gleaming granite countertops and stylish LVP flooring, seamlessly connecting the eat-in kitchen and formal dining space. Whether you're a seasoned chef or just love to entertain, this kitchen will not disappoint. Relax in the inviting main living area with its stunning stone-accented wall, perfect for cozy evenings or entertaining friends. Cool tones welcome you and your guests in. Need a quiet spot to work or study? The main floor office area provides a peaceful retreat while keeping you connected to the heart of the home. Upstairs, discover three spacious bedrooms and a luxurious primary suite with an ensuite full bathroom. Custom closets with a lifetime warranty ensure efficiency and maximize the closet space for the secondary bedrooms. The partially finished walk-out basement offers a versatile recreational area, with space to customize and expand, including a rough-in for an additional bathroom and framing in place for another bedroom! Outdoor Living and Community Perks Enjoy the outdoors on the spacious deck overlooking the backyard, ideal for summer barbecues and gatherings. The built-in sprinkler system and detached two-car garage add convenience to this already perfect package. Embrey Mill is a master-planned community offering a plethora of amenities. From the bustling Embrey Mill Town Center to the serene nature trails, there's something for everyone. Enjoy community pools, dog parks, fitness centers, and more, all within a short distance from your doorstep. Convenient Location This home offers easy access to major routes like I-95 and Route 1, ensuring a smooth commute to Quantico, Fort Belvoir, and the Pentagon. With shopping centers, historic Fredericksburg, and regional airports nearby, you'll enjoy both tranquility and convenience. Don't miss your chance to own this incredible home. With its fantastic features, prime location, and generous seller concessions, it won't be on the market for long. Schedule your tour today and step into your future in Embrey Mill!
Source: BRIGHT #VAST2035096
Source: BRIGHT #VAST2035096
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 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.