36824 Paxson Rd Purcellville, VA 20132
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About this home
On a picturesque country lane, in the foothills of the magnificent Blue Ridge Mountains, this exquisite Quaker style stone and brick residence, circa 1780, presides over 12.7 gorgeous acres of lush fields, sweeping lawns and brilliant perennial gardens offered with two parcels. Towering trees, stone walls and breathtaking views create a magical setting for this exquisite historic home, which has been meticulously restored, beautifully updated and elegantly appointed. The manicured grounds include a charming Guest House, with a new kitchen and sparkling new bath, and a fabulous heated pool, with a stone walled fountain and fieldstone terraces, completely secluded by the gardens and mature landscaping. In addition, there is an extraordinary four bay garage, a showplace for treasured cars and an incredible workshop that is anyone’s dream. There are two impressive driveways accessing the estate. The main entrance brings one to a terraced stone walkway leading to the formal front entry and the elegant foyer of the 1850 Queen Anne style wing. High ceilings, intricate moldings, travertine flooring and a lovely oak staircase are featured here, with a guest powder room located towards the rear. To the left is the stunning formal living room with gleaming wood floors, a wood burning fireplace and multiple large windows, bathing the room in natural sun light. To the right of the foyer, one enters the handsome family room, which is part of the 1824 stone addition. When originally built, this section offered the stately front entry, which now faces the mountains and enjoys a circular drive and spectacular vistas to the West. Brilliant crystal chandeliers, crown moldings and elegant mirrors grace both of these gracious rooms. Adjacent is the cozy tea room and a rear hallway with stairs to both the upper and lower levels. This addition then opens into the original section of the residence, which dates back to 1780. Originally a two over two stone home, a wall was removed on the main level creating what is now the very charming formal dining room, with wide plank pine floors, deep set windows, a stone fireplace and doorway accessing the beautiful front gardens. From the dining room one steps down into the gourmet country kitchen, completely remodeled and boasting a fabulous Lacanche five burner gas range, new refrigerator, farmhouse copper sink, Cherry cabinets with mirrored insets and the kitchen floor has radiant heat. In 2010, a mudroom was added with wonderful pantry space, slate flooring and a covered porch, leading out to the spectacular gardens, a stone smoke house, the guest house and heated pool. From the main stairwell one ascends to the second level, and to a spacious and light filled bedroom/sitting room with an inviting brick fireplace. An elegant hall bath, a huge master bedroom with wood burning fireplace and a dressing room and custom closet built-ins are located here. From the rear stairwell, one has access to both the master bedroom and to the two rooms of the original 1780 section, now a study, full modern bath and sitting room. Continue up the staircase to the third level, featuring a study/bedroom and another full bath. The second tree lined driveway entrance, offers access to the absolutely charming and very inviting guest house, and the new custom built four bay garage. Anyone with a fondness for vehicles with either 2 or 4 wheels will appreciate the outstanding features of this very special building. Strategically located below the view shed of the home, it was built to minimize its footprint with two bays facing south and two bays facing east, joined together by a corner work area with custom built-in work counter, a wet bar and an extra wide stairway providing excellent access to second level storage. The concrete floor, with radiant heat, is coated with an epoxy finish and equipped with floor drains. With interior hot and cold water connections, cars can be washed year round.
Source: BRIGHT #VALO2109244
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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.
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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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