514 Sleigh Dr Cross Junction, VA 22625
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About this home
Rarely does a property of this quality and location come to market. Situated within the highly exclusive Sleigh Drive enclave—just fifteen homes in total— this residence occupies one of Lake Holiday’s most distinguished addresses. Tucked against hundreds of acres of wooded trails and the quieter, newly improved South end of the lake, the setting is private, serene, and unlike any other within the community. Only steps away, **Beach Two** offers a sandy swimming area, playground, summer camp space, and convenient boat launch with docks. From the home, enjoy water views—some seasonal, others enduring—providing a constant reminder of the lake’s natural beauty. Built in 2006, the home has been beautifully renovated with a thoughtful balance of sophistication and comfort. The chef’s kitchen boasts a professional G.E. Café six-burner range, new countertops, flooring, and appliances. Renovated baths, including a refreshed primary suite, showcase timeless style, while period Danish Modern lighting fixtures lend a touch of design-forward character. All major systems have been updated, including dual-fuel HVAC with heat pumps and a Rinnai tankless water heater. Outside, a new deck and a fully fenced backyard expand the living space for gatherings or quiet enjoyment. **2023 Upgrades & Enhancements:** * Renovated primary suite & half bath * New kitchen appliances, countertops & flooring * New HVAC & tankless Rinnai water heater * Updated lighting & ceiling fans * Plantation shutters & custom blinds * Fully fenced backyard & new deck * Additional improvements throughout (full list available) Life at Lake Holiday offers more than a home—it provides a lifestyle. Residents enjoy the security of a 24-hour gated community and access to a clubhouse, fitness center, parks, three sandy beaches, and a welcoming lake culture.
Source: BRIGHT #VAFV2037210
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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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