2500 N Van Dorn St Apt 517 Unit 517 Alexandria, VA 22302
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About this home
Discover a charming opportunity in West End Alexandria where comfort meets convenience in this inviting hi-rise apartment. Built in 1965, this well-maintained unit offers a blend of traditional architectural style and modern amenities, making it an ideal choice for those seeking a cozy retreat in a vibrant community. Step inside to find a spacious studio apartment with essential appliances to enhance your daily living. The kitchen is equipped with a gas oven/range, refrigerator, dishwasher, and disposal, ensuring meal preparation is a breeze. The building boasts a range of community amenities that cater to an active lifestyle. Enjoy the convenience of a fitness center to keep you energized, or take a refreshing dip in the outdoor pool on warm days. With 24-hour security, including a desk in the lobby and a main entrance lock, you can feel at ease in your new home. Additional features such as common laundry facilities and a meeting room provide added convenience for residents. A bus stop is located outside the building making commuting and exploring the surrounding area effortless. Fort Ward park is across the street. The association fee covers essential services, including air conditioning, electricity, gas, heat, and water, allowing you to focus on enjoying your home without the hassle of additional bills. The well-maintained common areas and snow removal services ensure that your living environment remains pristine year-round. Parking is a breeze with unassigned, paved parking available in a private lot, making it easy for you and your guests to come and go as you please. The community atmosphere is enhanced by the friendly neighbors and shared spaces, creating a sense of belonging. This property is not just a place to live; it's a place to thrive. With its combination of comfort, convenience, and community, this Park Place apartment is ready to welcome you home. Don't miss the chance to make this inviting space your own! VA loan is assumable
Source: BRIGHT #VAAX2048090
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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.