1306 N 35th St Richmond, VA 23223
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About this home
Oakwood – Chimborazo Historic District! SELLER TO PAY $4000 TOWARD PURCHASER"S CLOSING COSTS! UPDATED INTERIOR! This CUTE, clean and cozy 3 bedroom 1 bathroom ranch is tucked into the quiet Oakwood neighborhood! Eat in kitchen with granite countertops, ceramic tile flooring and stainless steel appliances. Lots of natural lighting in the living room with large picture window and hardwood flooring. Hall bathroom with raised double sink vanity, ceramic tile shower and floor. Three bedrooms and main hallway all with hardwood floors. Step out into the back yard through the laundry/mudroom and rear sitting porch to a level and private fenced yard with 2 front entry gates and rear alley access through the double drive swing gates. Enjoy the outdoors with friends on cool nights on the quality finished paver patio by a warming fire. Sun yourself in privacy and listen to the birds sing! Many good times have occurred here! Enjoy the benefits of nearby establishments including Riverbend Coffee Roasters, Union Market, The Roosevelt, Kahlo’s Taqueria, Spotty Dog and Triple Crossing Fulton among others! Great walkability on sidewalk lined streets and close destinations include Chimborazo Park, Richmond Hill, Libbie Hill Park, Oakwood Cemetery and the Capital Trail! MCV, Interstates 64 and 95 and the downtown expressway are just minutes away. Numerous opportunities abound in this historic part of Richmond! Newer HVAC installed by previous owner and water heater replaced in 2024!
Source: CENTRALVIRGINIA #2528119
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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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