56 Fort Williams Pkwy, Alexandria, VA 22304
3 beds · 3 baths · 2,716 sqft
Living this close to Old Town Alexandria is a lifestyle rich with convenience and culture. But it's rare that it also comes with a cool contemporary modern home like this one! The charm of the picket fenced front yard is just the beginning of pride as you pull into the driveway. Of course, you may just want to bike to the King Street metro instead. Crowd favorites like Smoking Kow, Rockland's BBQ, or Pepe's Pizzeria may be great in an emergency, but when you see this kitchen, I bet you will frequent the nearby grocery store instead. This home is "the one" since a major renovation with meticulous detail and finishes - you just know it's something special as soon as you walk into the family room with soaring ceilings and a wood burning fireplace that calls you to gather or lounge with your laptop. You can see all the way through the elegant dining area, into the kitchen so everyone has a front row seat to the sounds and smells that memories are made of. Weekend brunch, chocolate chip cookies, or even a dinner party that can flow right out to the side deck. Head downstairs one level for a sun filled Rec Room and a second fireplace, perfect for game day, movie night, play time, or home school. A bathroom with a shower could make it a great option for guests or a workout too. Need a quiet place to read, think or work? Down one more level is a private office with built in bookcases. When it's time to call it a night, retreat to the top floor with your choice of three stylish bedrooms and two full baths. The oversized back deck and fully fenced back yard surrounded by woods will be waiting for you and your morning coffee.
Source: BRIGHT #VAAX2043264
Send questions to support@withroam.com
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: BRIGHT #VAAX2043264
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.