175 Ellis Dr Louisa, VA 23093
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About this home
***SELLER OFFERING 3% CLOSING COSTS OR RATE BUY-DOWN ASSISTANCE W/ A FULL PRICE OFFER***Welcome to a beautifully updated Louisa County retreat offering flexible living across two levels—1,242 sq. ft. on the main floor plus 1,242 sq. ft. in the walk-out basement (800 sq. ft. finished and 442 sq. ft. unfinished for storage, workshop, or future expansion). With 3 bedrooms and 3 full baths, this 2006 home delivers a rare combination of comfort, function, and location in a peaceful, lake-oriented community. Inside, you’ll be greeted by fresh paint, new light fixtures, and a stylish blend of finishes: gleaming hardwood floors in the living room and kitchen, ceramic tile in all bathrooms, and plush carpet in the bedrooms. The kitchen is fully equipped with range, refrigerator, dishwasher, and microwave, and opens to a sun-filled living area anchored by a cozy fireplace—the perfect gathering spot for everyday living or entertaining. The finished lower level offers endless possibilities: create a media room, gym, playroom, or guest suite, while the unfinished portion provides abundant storage or the chance to design your dream workshop. Outdoor living is equally inviting, with a private deck, patio, and open yard ideal for cookouts, gardening, or simply enjoying quiet evenings under the stars. Community lake access nearby allows for fishing, kayaking, or weekend relaxation, making every day feel like a getaway. Practical perks include heat pump heating/cooling, community/shared well water, mound septic, and an HOA that helps preserve the neighborhood’s welcoming appeal. Perfectly positioned within an easy 30 minute drive of Short Pump and Charlottesville, you’ll enjoy small-town serenity without sacrificing shopping, dining, or recreation. If you’ve been searching for a move-in-ready home with flexible living space, modern updates, and an unbeatable location, 175 Ellis Drive is the one. Schedule your private tour today and discover why this home is the perfect balance of tranquility and convenience!
Source: CENTRALVIRGINIA #2523669
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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.