1019 E Kensington Cir Fredericksburg, VA 22401
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About this home
***VA ASSUMABLE LOAN AT 3.625% AVAILABLE TO ELIGIBLE VETERANS!***Welcome to this elegant stone-front home in the Kensington Hills community in the city of Fredericksburg. Showcasing timeless curb appeal and refined living spaces, this 5700+ finished square foot home is perfectly positioned to allow for the generous backyard complete with a large patio, a tranquil pond, plenty of room to run and play, and a fully fenced space for added privacy. As you enter the home, you are greeted by the two story foyer which beams natural light throughout the home. A comfortable-size living room and an elegant dining room are at the front of the home with the dining room connecting to the butler’s pantry, which leads into the beautifully renovated kitchen (2022). Appointed with GE Café appliances, a stylish backsplash, freshly updated cabinets for a bright, modern look, sleek granite countertops with a generous island that can seat three, the kitchen is designed for both function and style. The sunroom bump-out bathes the home in natural light and opens to a newly expanded patio, creating the perfect flow for indoor-outdoor entertaining. A main level office provides a private retreat for work or study. Upstairs, discover the four bedrooms including a luxurious primary suite with its double sided fireplace that you can enjoy from the spacious sitting area as well. Two walk-in closets are another special feature of this suite. The second bedroom comes with it's ensuite bathroom and the two additional bedrooms are joined by a Jack-and-Jill bathroom completing the upper level. The fully finished basement offers a huge rec room that has made for fun movie nights. There is still room for your pool table, card playing table, you name it! The fifth bedroom (NTC) and an additional room have made for convenient guest areas with the full bathroom nearby. And work out at home in this exercise room with new flooring. The homeowners have enjoyed their backyard haven, featuring a beautifully designed pond framed by natural stone and lush plantings. This serene focal point elevates the outdoor space, offering both a tranquil escape and a picturesque setting for gatherings. Whether it's entertaining family and friends on the extended patio or just having tons of room for backyard activities, this private backyard has it all. Just minutes to downtown historic Fredericksburg, the VRE, local battlefields, Alum Springs Park, and plenty of restaurants and shops. What a great opportunity for you so call for your tour today!
Source: BRIGHT #VAFB2008946
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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