46 Yeocomico Ln Kinsale, VA 22488
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About this home
This charming 1900s Victorian-style, two-story home, formerly known as the George P. Bailey home, is a timeless blend of historical character and period finishes. Set just steps from a private marina along the deep protected water of Yeocomico Creek, the home offers a perfect blend of classic architecture and tranquil waterfront living. Inside, the house boasts lovingly refinished hardwood floors that gleam with warmth and authenticity, running throughout both levels. Rich wainscoting lines the walls, adding texture and craftsmanship that reflect the home’s early 20th-century roots. The soaring 9-foot ceilings on both floors create a spacious, airy ambiance, inviting in natural light and enhancing the home's graceful proportions. The traditional newel posts have all been completely restored and refinished as well. Each room is thoughtfully preserved with period charm yet updated for comfort. Whether you're relaxing in the cozy sitting room or enjoying a breeze on the porch the home exudes the quiet dignity of the historic, quaint Kinsale village heritage. The home has a newly updated kitchen and bathrooms as well. The 4 non-functioning fireplaces can all be restored to their former glory! This home could be a fabulous Air BNB! There is the ability to join the community marina, The Slips on the Yeocomico. Join and enjoy weekly yoga, community events throughout the year, kayak, canoe, paddleboard rentals, a kid's sailing camp as well as a pool, an available apt. and an AIRBNB boat rental. There is a kid's playground at the marina as well. Visit Kinsale and make it your home!
Source: BRIGHT #VAWE2008940
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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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