8312 Kingsgate Rd # 534, Springfield, VA 22152
3 beds · 2 baths · 1,270 sqft
***One of a few units with full sized washer and dryer***Don’t miss this opportunity to own a stunning and fully updated 3-bedroom, 2-bath condo in the highly sought-after Cardinal Forest community. This ground-level end unit showcases modern luxury and thoughtful upgrades, making it a perfect place to call home. Step inside to find luxury vinyl plank (LVP) flooring throughout most of the home, except for two bedrooms. Not only is the LVP flooring waterproof and scratch-resistant, but it’s also exclusive to ground-level units, adding an extra touch of distinction. The spacious primary bedroom enjoys the benefit of an additional window, bathing the space in natural light. The updated kitchen is a chef’s delight, featuring sleek cabinets, granite countertops, a deep wide sink, stainless steel appliances, and a built-in microwave. Both full bathrooms have been completely renovated with new vanities, toilets, lighting, and mirrors. The entire condo has been freshly painted, providing a bright and inviting atmosphere. Storage is plentiful, with generous closets in all bedrooms, including a large reach-in closet in the primary suite. There’s also a spacious linen closet in the primary bathroom. Modern amenities like newer windows, a water heater, and an updated HVAC system ensure year-round comfort and efficiency. Step outside to your private patio, a perfect retreat for relaxing after a long day. This pet-friendly community offers a host of amenities, including two swimming pools, tennis courts, two clubhouses, and even a boat lot. Enjoy nearby walking trails leading to the scenic Lake Accotink, adding outdoor adventures to your lifestyle. The $551 monthly condo fee is a great value, covering almost everything except electricity. Heat, hot water, water, sewer, trash, and snow removal are all included, giving you peace of mind and simplifying your budget. Located in a prime area, this home offers easy access to major commuter routes and public transportation. The Virginia Railway Express station is just two miles away, and the Springfield/Franconia Blue Line Metro station is nearby. With direct bus service to the Pentagon and a location just 16 miles from downtown DC, commuting has never been easier. Shopping and dining options abound, with the Springfield Town Center, Whole Foods, Trader Joe’s (including a brand-new location), and Giant Food stores nearby, including a gourmet Giant. The condo is also situated in the top-rated and recently renovated West Springfield High School pyramid, offering excellent educational opportunities. This beautifully updated home combines modern comfort, convenience, and an unbeatable location—you’ll love living here! ***Owner has an Active VA and MD Real Estate License***
Source: BRIGHT #VAFX2230360
Financials
Source: Public records
Source: BRIGHT #VAFX2230360
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.