4600 S Four Mile Run Dr Apt 530 # 530, Arlington, VA 22204
2 beds · 1 baths · 1,084 sqft
**Please remove shoes when entering property.*** This lovely light-filled 2-bedroom, 1-bath condo on the 5th floor of The Carlton offers 1,084 sq. ft. of living space that exudes comfort and style with ample closet space for storage. Step inside to discover brand-new luxury vinyl plank flooring throughout, along with floor-to-ceiling windows that flood the home with natural light. Enjoy serene, unobstructed views from your private balcony, overlooking the lush greenery of Four Mile Run Park and the Alexandria skyline. For added convenience, this home includes an assigned underground parking space, as well as laundry facilities located on each floor. Amenities offered on-site, including an Olympic-sized pool, fully-equipped gym, relaxing sauna, and tennis courts, all complemented by a 24-hour concierge service. The best part? All utilities—electricity, water, and gas—are included in the condo fee, allowing for hassle-free living and peace of mind. Ideally located, this condo places you just moments away from Shirlington's vibrant shops and restaurants, as well as Four Mile Run and W&OD Trails. With easy access to major highways and public transit, commuting and exploring the area have never been easier.
Source: BRIGHT #VAAR2054924
Source: BRIGHT #VAAR2054924
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.