7311 Hayfield Rd # A, Alexandria, VA 22315
8 beds · 6 baths · 3,648 sqft
ASSUMABLE VA LOAN AT 3.25% INTEREST RATE – INCREDIBLE OPPORTUNITY FOR QUALIFIED BUYERS! BUYER MUST BE VA-ELIGIBLE TO ASSUME. Experience luxurious living in this impressive 3-level home featuring 8 bedrooms, 6 full baths, and over 4,500 sq ft in one of Fairfax County's top school districts. The open layout offers 9-foot ceilings and beautiful hardwood floors throughout the main and upper levels. Highlights include a gourmet kitchen with granite countertops, stainless steel appliances, double ovens, gas range, and pantry. The main floor features a bedroom/office suite with a full bath. The second level hosts a spacious owner's suite with tray ceilings, dual walk-in closets, and a spa-like bath, plus a princess suite and two bedrooms sharing a Jack-and-Jill bath. The third level offers two additional bedrooms and a full bath. The fully finished basement includes a recreation room, wet bar, oversized bedroom, full bath, and extra unfinished storage space. Conveniently located minutes from Franconia-Springfield Metro Station (Blue Line), I-95, I-395, and I-495, as well as Springfield Town Center, Kingstowne Shopping Center, Whole Foods, Wegmans, restaurants, golf courses, entertainment, and exciting new and approved developments around Springfield Mall, including Inova Franconia-Springfield Hospital and the Franconia Governmental Center and Kingstowne Regional Library. Don’t miss out on this rare financing advantage—schedule your private showing today!
Source: BRIGHT #VAFX2228658
Financials
Source: Public records
Source: BRIGHT #VAFX2228658
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.