4800 28th St S, Arlington, VA 22206
2 beds · 2 baths · 1,383 sqft
Beautiful 2-bedroom, 2-bathroom Clarendon II model townhome nestled in Fairlington Villages! This light-filled end-unit home features gleaming hardwood floors, recessed lighting, updated vinyl windows, & neutral paint throughout. Thoughtful updates include new outlets, vents, locks, & light switches. The open kitchen boasts tile flooring, quartz countertops, white soft-close cabinetry, a gorgeous subway tile backsplash, and a stainless steel microwave, dishwasher, & refrigerator. The dining area features a lovely chandelier, and the back door leads to a private, fully fenced patio with a storage shed, new fence (2024), and access to community green space. Upstairs, the spacious primary bedroom features a ceiling fan and a large walk-in closet with custom Elfa closet system. The 2nd bedroom has abundant natural light, overlooks the serene back green space, and also includes a ceiling fan and Elfa closet shelving. The updated bathroom is accented with modern tile flooring, a stylish vanity, and a shower with oversized tile surround & an updated tub. A large hallway linen closet provides ample storage space and completes this level. The lower level features upgraded LVP flooring & overhead lighting throughout the spacious recreation room and bonus room - great for guests or a home office. An under-stair utility/storage closet provides additional storage space on this level. The updated bathroom has tile flooring, a gray vanity, a sparkling white tiled corner shower, and a laundry nook with a full-sized washer and dryer & overhead shelving. Additional highlights include a large, floored attic with a window allowing for plenty of room for expansion, a newer electric panel (2019), a newer HVAC system (2023), and two reserved parking spaces. Fairlington Villages amenities include six pools, lighted tennis courts, tot lots, walking paths, and more! Ideally located near I-395, The Village at Shirlington, Baileys Crossroads, Del Ray, and Old Town Alexandria!
Source: BRIGHT #VAAR2054362
Financials
Source: Public records
Source: BRIGHT #VAAR2054362
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.