15 Rachels Ln Front Royal, VA 22630
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About this home
Stunning colonial home situated on 2 private acres, less than 2 miles from the scenic Shenandoah River! This beautifully maintained 4-bedroom, 5-bathroom home offers spacious living with elegant finishes throughout. The main level features bamboo flooring, a grand staircase with wrought iron spindles, a large gourmet kitchen with granite countertops, gas cooktop, double ovens, smart refrigerator, walk-in pantry, and a spacious formal dining room (table & chairs convey). Enjoy a formal sitting room, flex space or office, and a vaulted great room with a stone gas fireplace. Two staircases provide convenient access to the upper level, which includes 4 bedrooms and 3 full bathrooms. The expansive primary suite offers a jetted tub and a large walk-in closet with built-ins. There's another finished room in the attic space, that's fully carpeted. Finished bonus room over the garage provides endless possibilities. The fully finished basement includes durable LVP flooring, a full bathroom, wood stove, and a bar—both of which convey—making it perfect for entertaining. Outdoor living includes a screened-in porch, an open deck, a fire pit area, and an attached 2-car garage. The home is equipped with a Culligan water softener system with regular inspections and salt delivery. Dining room set, basement bar, mirror, wine rack and wood stove in the basement all conveys. Buyer to verify all information. This is a must-see property offering space, charm, and thoughtful upgrades throughout! Seller has provided all information regarding the property to the best of their knowledge. Buyer to perform their own due diligence.
Source: BRIGHT #VAWR2011922
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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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