5553 Hobsons Choice Loop, Manassas, VA 20112
4 beds · 4 baths · 3,100 sqft
ASSUMABLE 3% VA RATE! Welcome to Ashland! This stunning home is perfect for comfortable living and entertaining. Walk up to a charming front porch and be welcomed to a spacious living room features gleaming hardwood floors that extend throughout the main level, creating a warm and inviting atmosphere. The open dining area offers plenty of space for a large table, ideal for hosting family and friends. The kitchen is a true highlight—featuring a brand new refrigerator and stove, a large island, and a dinette space that comfortably seats at least four people. It opens up seamlessly into the family room, making it perfect for cooking, entertaining, or simply relaxing while watching TV. Just off the kitchen, you’ll find a convenient laundry room with a recently replaced washer and dryer, leading directly into the garage. Upstairs, the master suite is an oasis, boasting a vaulted ceiling, an enormous walk-in closet, and a luxurious master bath with a separate shower, Jacuzzi soaking tub, and double vanity. Three additional spacious bedrooms share another full bathroom, providing plenty of space for the whole family. The fully finished basement is an added bonus, featuring plush carpeting, a third full bathroom, a bonus room with a walk-in closet, and a large storage area. Outside, the large fenced-in backyard offers plenty of room for play, along with a small garden space to grow your own vegetables. This home is also updated with an HVAC system replaced just five years ago, a water heater replaced in 2021, and brand new gutters. With 300+ more square feet than comparable homes recently sold in the area, it offers exceptional space and value. The Ashland community center is just a short walk away, featuring basketball and tennis courts, an outdoor pool, a gym, and a playground. You’re also conveniently located just a mile from two shopping centers, three miles from Fortuna Center Plaza, and only four miles from I-95, ensuring easy access to all your needs. Don’t miss out—come see this beautiful property for yourself!
Source: BRIGHT #VAPW2089774
Financials
Source: Public records
Source: BRIGHT #VAPW2089774
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.