4048 Broad Street Rd Gum Spring, VA 23065
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About this home
Private & Serene 115 acres known as East Leake Farm! French Country Style Main Home offers Grand Manor Roof, New 4-Car Custom Garage, 812 sq. ft. Gym (flex room) w/New HVAC System, and brand new Saltwater Gunite Pebbletec Pool w/Waterfall & Hot Tub w/Stone Surround Patio! Heat, jets, water feature and lights controlled by Aqua link app! Dedicated 500 Gal. Underground Propane Tank for Pool/Hot Tub! 2 New 1000 Gal. Underground Propane Tanks (owned by seller)! Generac Generator! Tankless Hot Water! Renovated Kitchen boasts All New Marble Countertops, Center Island w/Soapstone and New SS Appliances including Wolf 6-burner gas range, separate Subzero Fridge/Freezer and Paykel Dishwasher. Sun-Drenched Morning Room w/3 Walls of Windows! Primary Bedroom is complimented by Vaulted Ceiling, Marble Gas FP, All New Custom Walk-in California Closets, and Attached Luxury Bath! Rec. Room is accentuated w/Vaulted Ceilings, Gas FP, and New Custom Bar w/Marble Countertops! 2 Upstairs Bedrooms w/Jack & Jill Bath and BONUS room! Cozy Log Cabin is 1088 sq. ft. and offers 3 Bedrooms, 2 Baths, Living Rm, and Morning Rm! The 1800's Farmhouse is 1216 sq. ft. w/2 Bedrooms, 1.5 Baths, Heated Saltwater Pool, and New HVAC System! Encapsulated Crawlspace in Main Home, Cabin, & Farmhouse! Exterior Screened Porch “Summer Kitchen” was original kitchen on property and features a Wood Burning Fireplace and Sunken Garden w/Koi Pond! Property has 2 Spring-Fed Ponds & Spring-Fed 6 acre Lake Stocked w/Fish! Upgraded Gate Entrance w/Security Camera! Miles of Walking & Riding Trails! 5 Fenced Pastures! Property offers barn w/possibility of 5-6 stalls. Additional Buildings from the 1800s include Smoke House, Ice House, Corn Crib, Original Dr.'s office & multiple other buildings. Property contains 2 parcels. Invisible Dog fence that spans several acres. Firefly Wired High Speed Internet. Close to I-64 for Richmond/Charlottesville. Total Bdrms & Baths are from entire property. Proof of funds or lender letter required for all showings.
Source: CENTRALVIRGINIA #2527091
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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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