12887 Fair Briar Ln Fairfax, VA 22033
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About this home
Charming Three-Level Condo in the Heart of Fairfax Located less than twenty miles west of Washington, D.C., this beautiful Fairfax condominium offers the perfect blend of suburban tranquility and urban accessibility. Fairfax is a welcoming community popular with DC-area commuters, featuring top-rated public schools, friendly neighbors, and a quaint atmosphere. Residents enjoy numerous local festivals celebrating everything from Irish heritage to the arts and chocolate, as well as public parks, playgrounds, and a walkable downtown district. Unit 12887 is a spacious three-level home that immediately impresses with its two-story foyer adorned with slate tile flooring. The main level features a bright, open living and dining area that is perfect for entertaining with fresh paint throughout, while the gourmet kitchen boasts granite countertops, upgraded stainless steel appliances, and a convenient double sink. A full-size washer and dryer add everyday convenience, and newly installed carpet in 2022 enhances the comfort of the home. The master bedroom features a ceiling fan, crown molding, a master bath, and a walk-in closet, with recessed lighting and window treatments throughout completing the inviting interior. This condo comes equipped with all essential appliances, including a built-in microwave, dishwasher, disposal, oven, refrigerator, and water heater. Comfort is assured year-round with central air conditioning and forced-air heating. The homeowner's association, with a monthly fee of $465.36, covers water, trash, lawn and exterior maintenance, pool and recreation facilities, security, a master insurance policy, and snow removal, offering a low-maintenance lifestyle. Electricity, gas, and oil/propane are provided by Dominion, while cable and internet service can be set up through Cox. Families will appreciate proximity to excellent schools, including Greenbriar East Elementary, Lanier Middle School, and Fairfax High School, with George Mason University also nearby. The unit includes two assigned parking spaces, a visitor pass, and two gate keys for secure community access. Gates of Fair Lakes offers amenities such as a gated entrance with security, an outdoor pool, exercise and party rooms, and beautifully maintained common grounds. Convenient transportation options include the Vienna/Fairfax-GMU Metro station just 6.9 miles away, as well as quick access to Washington Dulles International Airport (12.1 miles) and Ronald Reagan Washington National Airport (23.8 miles). Shoppers and food enthusiasts will enjoy nearby centers including the Shops at Fair Lakes, just a five-minute walk, Fair Lakes Center within 11 minutes, and East Market at Fair Lakes within a 17-minute walk. With its modern upgrades, spacious layout, and vibrant community, this condo at Gates of Fair Lakes offers an exceptional opportunity for comfortable, convenient living in Fairfax.
Source: BRIGHT #VAFX2270262
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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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