7809 E Yardley Rd, Henrico, VA 23294
4 beds · 3 baths · 2,466 sqft
This home appears more spacious than it seems, thanks to a Sunroom addition at the back with a cathedral ceiling and a freestanding gas fireplace. The updated kitchen features granite countertops and stainless steel appliances, with a pass-through to the Sunroom. The formal living room and dining room feature elegant wood floors. The second floor includes a primary bedroom with wood floors, a spacious closet, and an en-suite bathroom. Additionally, there are two generously sized bedrooms, both with wood floors, and a hall bath on this level. The third floor offers a fourth bedroom with a walk-in closet and laminate floors. The lower level is home to a large family room with a gas fireplace, along with a convenient half bath. This traditional floor plan also includes a lower-level utility room with outside access. The replacement windows offer easy cleaning and energy efficiency. The property also boasts a paved driveway, covered parking, and a beautifully landscaped yard with a patio and slate paths. Additionally, there are two detached storage/gardening sheds, and a fenced rear yard.
Source: CENTRALVIRGINIA #2506320
Financials
Source: CENTRALVIRGINIA #2506320
Source: Public records
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%. 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.
Other resourcesWhat 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.