7126 Lynnroy Way, Mechanicsville, VA 23111
3 beds · 2 baths · 1,302 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome home to 7126 Lynnroy Way. This charming rancher is more than just a house; it’s a place where cherished memories will be made. Whether you’re a first-time homebuyer or looking to downsize without sacrificing comfort, this property fits the bill perfectly. Nestled on a spacious lot, this property is a true gem that offers everything you need for a serene and enjoyable lifestyle. The fenced backyard is a standout feature of this property, providing a secure space for children and/or pets to play freely. Imagine summer barbecues on the deck and patio or simply unwinding in your own outdoor haven. This space invites you to create memories and enjoy the beauty of nature right at your doorstep. The attractive vinyl siding not only enhances curb appeal but also ensures low maintenance, allowing you more time to relax and enjoy your surroundings. Step inside to find a warm and inviting living room bathed in natural light, ideal for cozy family nights or hosting friends. The open-concept design seamlessly connects the living room to the dining area and kitchen, creating a perfect space for gatherings. Don't wait, come check out this one soon! Be sure to view the video to see this home's highlights.
Source: CENTRALVIRGINIA #2509383
Source: CENTRALVIRGINIA #2509383
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.