1111 Eastover Pkwy Locust Grove, VA 22508
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About this home
Security of a gated community that has loads on amenities to enjoy. The Seller explains why they purchased the home and why they think you will enjoy it as your home>>>When you step in the front door, the foyer contains an updated, alcove with bench seating for a convenient, practical spot to slip off your shoes and hang your coat up. It has been encased with rustic boards that exude warmth and character. The stone fireplace at the end of the foyer is open on both sides allowing it to truly be the home's centerpiece. I immediately visualized it with our Christmas stockings hanging off the mantel and our 9' tree fitting easily beside it. The open living room/dining room floor plan, soaring vaulted ceilings, and large windows allow for a lot of light to pour through. Those same windows and the elevation of the home took my breath away as it seemed I was actually living in a tree house. Squirrels, birds, deer, and even golfers can be watched through those windows. The kitchen has a very cozy feel with its warm earth tones and is literally wrapped in cabinets. Storage has never been an issue. The primary suite on one end of the home allows for privacy and relaxation. The jetted tub and large round window in the primary bath overlooks the fenced in courtyard. The primary suite also has it's own separate door to the back screened in porch. That porch is a great place to retreat and watch the deer roam the back yard and is a cool respite from the summer heat. The other end of the home has two additional bedrooms that are spacious with cathedral ceilings. One of those bedrooms even has a walk-in closet - perfect for lots of toys or clothes to be stored. The bathroom on that end has a basin sink and a custom, rustic sink cabinet that compliments the style of the home. The first-floor laundry is conveniently located on the unique stair landing that leads to the 2 car garage and the walk-out basement. There is additional storage under the steps and a huge storage room that houses the furnace and water heater. The downstairs is perfect for an additional living room/den area/gaming room. There is enough open area to set up a workout space, craft area, or other endless possibilities. There are two more bedrooms downstairs that could easily be used as guest rooms or office space. The large windows overlook the backyard and the golf course. The downstairs custom bath features gorgeous tile work and a large walk-in shower with sliding glass barn-door type shower doors. You could completely live on the main floor and leave the lower level for when you have company come to visit or vacation with you here at the lake. There are plenty of neighbors in this quiet section of the lake, but the way the home is situated on the lot and the mature trees that surround it ensure that privacy is not an issue. Eastover Parkway conveniently loops around making it perfect for a quick lap around with your dogs. Home is within walking distance of the little lake and boat ramp - great for fishing and kayaking. The large, main lake is a short drive away and has many beaches for fishing, swimming, and boating. The community has 2 pools, a clubhouse with a bar and restaurant, a gym that overlooks the lake, and an equestrian center. There is always something to do at Lake of the Woods. See the HOA website for more info on amenities and services offered.
Source: BRIGHT #VAOR2012418
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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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