3301 Somerset Ln Fredericksburg, VA 22407
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About this home
Tucked inside the established Waverly Village community, this single-level rambler blends comfort, function, and timeless everyday style. Offering more than 1,700 square feet on one level, the layout is designed for effortless flow between bright, open living areas and the home’s private bedroom wing. Luxury vinyl plank flooring runs throughout the main living spaces and bedrooms, creating a cohesive, easy-care look. The living and family rooms are filled with natural light and finished with crown molding, built-ins, and warm wood-accent walls that lend a touch of character. The kitchen combines practical design with appealing finishes, featuring granite countertops, oak cabinetry, and gas cooking. A full appliance suite—including refrigerator with ice maker, built-in microwave, dishwasher, and disposer—makes meal prep easy. The adjoining dining area connects naturally to both the kitchen and backyard patio, creating a seamless setting for everyday meals or casual entertaining. The primary suite includes a double-door closet, and a private tiled bath with stand-alone shower and single vanity. Two additional bedrooms share a second full bath finished with tiled tub/shower combo and laminate vanity, providing flexible options for guests, family, or a home office. Modern updates add confidence and convenience, including a Daikin mini-split installed in 2024. The main-level laundry with washer and dryer conveys. Outdoor living is equally inviting. A fully fenced backyard offers room to relax or entertain with a patio perfect for grilling or outdoor dining and a powered shed (2020) for storage or workshop space. Mature trees add shade and privacy, enhancing the home’s sense of calm and comfort. Conveniently located just minutes from Route 3, shopping, dining, and commuter routes, this Waverly Village rambler delivers the perfect blend of single-level living, functional updates, and an established neighborhood setting that feels both welcoming and enduring
Source: BRIGHT #VASP2036346
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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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