405 Harrison Cir Locust Grove, VA 22508
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About this home
Nestled in the serene community of Lake of the Woods, this well maintained ranch-style home offers a perfect blend of comfort and functionality. With 2,100 square feet of thoughtfully designed living space, this residence features three spacious bedrooms and two full bathrooms, making it an ideal retreat for those seeking a peaceful lifestyle. Step inside to discover a warm and inviting interior, highlighted by a traditional floor plan that seamlessly connects the family room and kitchen. The eat-in kitchen is ensuring that meal preparation is a delight. Enjoy cozy evenings by the gas fireplace in the family room, creating a welcoming atmosphere for relaxation. The home boasts beautiful LVP flooring throughout, enhancing its appeal. Garage has been upgraded and equiped with a chairlift and EV(electric vehicle) Charger that conveys with the home!! Outdoor living is equally impressive, featuring a spacious back yard, perfect for entertaining or simply enjoying the tranquil surroundings. The community amenities are a true highlight, including access to a pool, beach, boat ramp, and a well-equipped fitness center. For those who enjoy outdoor activities, the community also offers tennis courts, picnic areas, and a golf course, ensuring there's something for everyone. Equestrian enthusiasts will appreciate the horse amenities available, including a paddock, riding ring, and stables, allowing for a fulfilling lifestyle for both horse and rider. The community is gated, providing an added layer of security and peace of mind. Lake of the Woods is not just a place to live; it's a vibrant community with a strong sense of belonging. Residents enjoy access to local parks, recreational facilities, making it a desirable location for those who value community engagement and outdoor activities. With convenient public services and a welcoming atmosphere, this neighborhood truly embodies the essence of home. Don't miss the opportunity to make this delightful property your own and experience the best of Lake of the Woods living!
Source: BRIGHT #VAOR2010576
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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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