12704 Purcell Rd Manassas, VA 20112
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About this home
General agents: Very nice raised ranch single-family home in Manassas, with 2 levels, a fully renovated home with two full levels, a new roof, a new heating system, an updated and modern renovated kitchen, raised lights, renovated full bathrooms, laminate waterproof floors, fresh paint, a nice deck, and a large driveway. This spacious property offers everything you’re looking for and more. Enjoy family rooms, recreation rooms, and a fully finished basement with two large dens, a full bathroom, and a kitchenette, all set on a 1.53-acre lot. With over 2,100 finished square feet on the main level alone, plus basement spaces, there’s no shortage of living space. Excellent and conveniently near Route 234, shops, restaurants, and more, this home combines comfort, style, and accessibility. The expansive outdoor area is perfect for entertaining or simply enjoying the serene surroundings. With ample parking and easy access to local amenities, this property is an ideal choice for families seeking both tranquility and convenience. The property has no HOA community. Perfect for first-time buyers or investments
Source: BRIGHT #VAPW2106804
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.