5800 Three Penny Dr, Fairfax Station, VA 22039
4 beds · 4 baths · 2,312 sqft
Get a free consultation call with an expert in the mortgage assumption process.
$50,000 price improvement for this unique 5-acre private retreat! This is an exceptional opportunity to own this spectacular turn-key property. Five fully fenced acres of level, low maintenance, private, wooded, and open areas where the pets and family can roam and play! Four bedrooms, 3-1/2 baths, gorgeous woodlands, Serene haven offering rare peacefulness and privacy. The house is sited amid extensive lawns bordered by mature trees, providing complete privacy from spring to late fall. The vistas you enjoy from most rooms and from the large deck and spacious yard are of woodlands, birds, and nature. The grounds include perennial flowers and shrubs, a large, wood-burning fire pit, and a big burbling pond. There’s a hot tub on the deck where you can enjoy the tranquil views. There’s nothing you need to do. Everything has been upgraded with more than $500,000 in recent improvements. . Whether you’re looking for luxurious living, seeking a private retreat, or looking for rental income potential, you’ll find it all here. A flagstone walkway leads to the welcoming front porch and handsome entry door with sidelights. The main level has an open floor plan with amazing natural light from walls of windows overlooking the views. There’s a private study or home office just off the foyer, and a powder room tucked away from the cooking and dining area. The kitchen, dining, and family rooms comprise a seamless, light-filled open space. Gourmet kitchen has top-of-the-line GE Café appliances – refrigerator, oven, dishwasher, in-drawer microwave, and induction cooktop. Extensive cabinetry designed to accommodate all you need to use and store. Pantry cabinets with pull-out shelving make everything conveniently accessible. Dining area bay overlooks pergola and deck. Family room has a 2-story fireplace (gas), vaulted ceiling, skylights illuminating the room and the loft above, and French doors to deck and yard. 2-car attached garage has epoxy floor coating and custom fitted workshop area. The deck wraps around the back of the house and connects to the front porch. Caldera luxury hot tub on the deck overlooks lawn and pond. Upstairs, there’s a luxurious primary suite, with a loft sitting room, walk-in closet, wet bar and sybaritic en-suite bath with freestanding acrylic soaking tub, luxury separate shower with frameless glass walls, shower head and handheld spray, down-up blinds for privacy and light. Toilet has Kohler heated electric bidet seat. Vanity with sink and separate dressing table with sink. Continue through the primary suite to the airy loft overlooking the family room. Relax and connect here, or use as an additional work from home office space. Bedrooms 2 and 3 served by hall bath. Comfortable den provides another gathering, tv or study space. Linen closet. All of this comes with a full apartment on the lower level. Full kitchen, big living room, full bath with separate shower and tub, bedroom with extensive walls of closets. Laundry and storage room. Connecting stairway makes this perfect for guests, in-laws, au pair– and it is a fully permitted and approved, legal rentable income unit with additional private outside entrance. Large outbuilding with heat and a/c, flexible use including studio, classroom, exercise, or additional two-car garage.
Source: BRIGHT #VAFX2228332
All values shown are estimated costs / mo.
Source: Public records
Source: BRIGHT #VAFX2228332
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.
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.
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.
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.
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.
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.