5608 Broadmoor St, Alexandria, VA 22315
4 beds · 3 baths · 2,880 sqft
***BEST AND FINAL OFFERS DUE 3PM SUNDAY**Hayfield Farm is the place to be. This home is "the one" - an expanded center hall Colonial with upgrades throughout. You may buy it for the curb appeal and sprawling front lawn alone, but it also comes with a golden ticket to the cool kids club - a highly coveted pool share for the Hayfield Farm Swim Club. Commute options allow you to enjoy being "home" longer. You don't want to miss out on any of the community meet-ups, parades or playdates at the Hayfield park. Just 25 minutes to the Pentagon, 3.5 miles to Metro, VRE, I-495, HOV, or Fairfax County Parkway, with a walk to popular schools. All the essentials for shopping and dining are 10 minutes or less away in Kingstowne, Springfield or Wegmans. Walk right in, kick off your shoes, and leave your bags and stress in the foyer, before you decide which corner to settle in. Rooms for everyone, whether work, play, music, study, or relaxing. Main level offers an oversized front living room with the crackle of a wood burning fireplace, elegant dining, main level bedroom (or oversized art studio), full bath with a shower, and office, all with the delightfully upgraded kitchen at the heart of the home. The breakfast area makes a great casual gathering place with a front row seat to grilling out on the back deck. Your choice of three more bedrooms and two baths offered by the upstairs level. It used to be four, but they wanted to wake up every morning in a massive primary bedroom, so permits were cleared and walls came down. The finished basement stays a cool place for movie night, exercise or board games. Finished with the perfect balance of living space, laundry, a closet with hidden plumbing, and a storage room large enough for even your kayaks. Walk up to the fully fenced back yard just waiting for your adirondack chairs and friends to gather around a solo stove. Welcome Home and bring on summer nights!
Source: BRIGHT #VAFX2230260
Source: BRIGHT #VAFX2230260
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.