525 E Nelson Ave, Alexandria, VA 22301
3 beds · 2 baths · 1,650 sqft
OPEN HOUSE CANCELLED! Home is under contract. Stunning townhouse located in the vibrant heart of Del Ray! This completely renovated 3-bedroom, 2-bathroom home showcases modern finishes across 1,650 square feet of living space. The main level feels spacious and stately with a rear addition added in 2018. Upon entering the home, you'll be welcomed by the dining area filled with abundant natural light. The beautifully updated kitchen features quartz countertops, stainless steel appliances, and a pantry wall with floor to ceiling cabinetry. The kitchen overlooks the family room making it the perfect space for entertaining. From the family room you have access to the private fenced backyard, complete with a patio, maintenance free turf, and a storage shed. The property also offers highly sought after off-street private parking for 2 cars accessible via a private alley exclusive to homeowners on the block. Inside on the upper level you'll find two spacious bedrooms and a full bathroom. Off the 2nd bedroom you'll find a beautiful tiled roof deck, yet another special feature unique to this home. The lower level has a den/recreational space, a full bathroom, laundry, and the third bedroom, with additional access to the backyard. Both the front and rear of the property offer generous outdoor spaces. Relax on the front porch and immerse yourself in the lively Del Ray community. This home's prime location provides easy access to dining, entertainment, nature, shopping, and multiple transportation options. It's just steps away from Matt and Tony’s, Junction Bakery, The Garden, and more, with close proximity to the Braddock Metro Station, a 15-minute drive to the Pentagon and Clarendon, and only 1.5 miles from the Old Town Alexandria Waterfront. Don't miss out on this rare opportunity to own in Del Ray!
Source: BRIGHT #VAAX2043122
Source: BRIGHT #VAAX2043122
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.