3811 Terminal Ave Richmond, VA 23224
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About this home
Where Modern Comfort Meets Richmond Charm - With a Bonus Buildable Lot Included! ***Independent appraisal performed and total value including lot is $450,000!! Appraisal provided with offer*** Step into this beautifully remodeled Richmond gem, perfectly nestled in a quiet, established neighborhood just minutes from downtown. This move-in-ready home showcases fresh upgrades throughout, including brand-new flooring, a stylishly updated kitchen with sleek countertops and stainless steel appliances, modern lighting, and refreshed bathrooms-blending timeless character with contemporary flair. Whether you're relaxing in the spacious living area, sharing meals in the light-filled dining space, or entertaining in the large backyard, this home is designed with comfort and versatility in mind. What makes this opportunity even more special? The purchase includes the bonus adjacent lot at 3807 Terminal Avenue, offering extra space, privacy, or potential for expansion or investment-an incredible value-add for homeowners or savvy investors. Located just moments from Bellemeade Park, Ancarrow's Landing on the James River, and the scenic Virginia Capital Trail, outdoor enthusiasts will love the convenience of nature and recreation close by. You're also only a short drive to Shockoe Bottom, Manchester's thriving art scene, local breweries, and some of Richmond's best dining. With easy access to major highways, schools, and everyday essentials, this home is ideal for first-time buyers, investors, or anyone looking to enjoy the best of Richmond living. Don't miss this rare chance to own a stylishly updated home with a bonus lot in a growing area-schedule your private tour today!
Source: CENTRALVIRGINIA #2526174
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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.