417 Clayton Ln Alexandria, VA 22304
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About this home
Great NEW PRICE! This home comes with a VA assumable loan at 2.5%! Welcome home to this sun-filled end unit garage townhome in sought after Kensington Courts. As you pull up to the home take note of the private corner location, the beautiful bay window, and the large two car garage. This beautiful home has been freshly painted throughout and is ready to move in. As you enter you will spot the large open living/dining area surrounded by windows. To the left, the spacious eat-in kitchen featuring hardwood floors is a cook’s delight. The sliding doors in the kitchen lead out onto a private deck overlooking a treed yard. There is also a powder room on this level. Upstairs you will find a gracious primary suite with a walk-in closet and an attached bath. The oversized primary bath includes a soaking tub and a shower. On this level there are also two other nicely sized bedrooms, a full bath, and, most importantly, the bedroom level laundry area. The lower level of the home features a full bath and family room with sliding doors opening to the back yard. Because it offers a private entrance, the family room area could also be used as a mother-in-law suite. The possibilities are endless! This level also provides access to the two-car garage. The neighborhood itself is conveniently located and offers great guest parking. It is close to public transportation, with easy access to major commuting routes. Don’t miss this one!
Source: BRIGHT #VAAX2047908
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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.