604 Norman Dr, Ruther Glen, VA 22546
2 beds · 2 baths · 1,152 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to 604 Norman Drive! Come discover the charm of this cozy home in the gated community of Lake Landor! With a large fenced-in backyard, mature trees, and convenient access to the lake, this is a home you won't want to miss out on! It features 2 bedrooms, 2 full bathrooms, a nice laundry room, a spacious living room, an open kitchen, and a dining room! The exterior has a nice deck spanning a good bit of the house and a fenced-in backyard! ***Updated Items Include*** Roof (only 4 years old), new gutters and down spouts (less than 6 months old), new facia (less than 6 months old), freshly painted interior, freshly stained exterior of home, and MORE! Neighborhood amenities include: lake and beach access, a clubhouse, a gym, multiple swimming pools, playgrounds, a basketball court, picnic areas, skeet shooting range, a campground area, and MUCH MORE!
Source: BRIGHT #VACV2007314
Source: BRIGHT #VACV2007314
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 and Equal Opportunity Act.