3778 Gunston Rd Alexandria, VA 22302
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About this home
Assumable loan at 5.75%; motivated seller! This upper level (no footsteps overhead!) Colonial townhouse condo offers the classic character and charm of Arlington/Old Town 20th century ('they don't make them like this any more!') with modern utility and efficiency. The open floor plan features original parquet wood floor, newer windows, newer heat/cool appliances, added attic insulation (yes, your own attic with pull-down stairs!) and updated bath and kitchen features. The custom design kitchen cabinets, essential appliances in a newer gas range, newer refrigerator, new sink, new faucet, new disposer, and a countertop microwave, all make meal prep and food storage a dream in this 824 SF condo. Storage is well-planned in oversized coat and storage closets plus a converted storage space for the in-unit stacked washer/dryer for your private and leisurely use. The amply sized bedroom comes with a good sized walk-in closet. The community enhances the urban location with park-like setting. Parkfairfax is alive with pet friendly sidewalks with cleanup stations, community events all year long, 3 refreshing outdoor pools, a community center with party room accommodations, tennis courts, tot lots, and lovely winding trails over 132 wooded acres. This home sits at the corner metrobus stop, 395 access, 2.8 miles to Pentagon City Metro Station, 3.1 miles to VRE/AMTRAK King Street station, and just 3 miles to DCA by car. A safe walkway across 395 leads to the Shirlington neighborhood amenities giving you access to pharmacy, grocery, indoor dining, patio dining, boutique shops, and even a 'walking happy hour'. The unit's condo fee includes gas (heat, cooking, water heater), water, and trash services along with community amenities of laundromat (for larger than the unit's appliances can manage), pools, tennis courts, community center, fitness room, and walking paths. This is not just a residence--it's a gateway to vibrant and well-established social and convenience opportunities. Experience this delightful property and neighborhood today!
Source: BRIGHT #VAAX2049594
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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.