16 Lincoln Cv Ruther Glen, VA 22546
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About this home
Nestled in the serene community of Lake Caroline, a Craftsman-style residence offers a harmonious blend of practical and comfort. Built in 2023, this home showcases modern elegance with traditional charm, making it the perfect retreat for those seeking a comfortable lifestyle. Step inside to discover a thoughtfully designed interior that exudes warmth and relaxation. The spacious family room, seamlessly connected to the kitchen, invites gatherings and cherished moments. The upgraded countertops and stainless steel appliances in the eat-in kitchen elevate your experience, while the formal dining area provides an elegant setting for entertaining guests. Enjoy the convenience of a dedicated laundry area located on the upper floor. The home features three generously sized bedrooms, including a primary suite that boasts a walk-in closet and a spa-like bathroom with new walk-in shower doors. The main floor has LVP throughout and fresh paint. The upper level has fresh paint on stairwell and hall, plush carpeting creating an inviting atmosphere throughout. Outside, the property is situated on a desirable corner lot, offering ample space for outdoor enjoyment. The community amenities include access to a stunning outdoor pool and a recreational center, perfect for relaxation and leisure. With water access to Lake Caroline, residents can indulge in a variety of water activities, enhancing the overall lifestyle experience. The exterior of the home is crafted with durable vinyl siding and framed construction for longevity and low maintenance. A charming porch invites you to unwind and soak in the tranquil surroundings, while the driveway accommodates up to four plus vehicles, providing convenience for you and your guests. Safety and security are paramount, with a gated entrance to the community, allowing for peace of mind. The association fee includes common area maintenance, ensuring that the community remains welcoming. This property is not just a home; it's a lifestyle choice that offers the perfect blend of comfort and community. Experience the best of Lake Caroline living, where every day feels like a vacation. Embrace the opportunity to make this stunning residence your own and enjoy the exclusive amenities that come with it.
Source: BRIGHT #VACV2009036
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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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