5707 Olde Mill Ct Unit 111 Unit 111 Alexandria, VA 22309
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About this home
Welcome to 5707 Olde Mill Court #111, a charming two-bedroom, two-bath condo in the established Olde Mill community of Alexandria. Set on a single level, this home blends comfort and convenience with a welcoming layout designed for both everyday living and entertaining. The open living and dining area centers around a cozy wood-burning fireplace, creating a warm gathering space, while a sliding glass door leads to a private patio overlooking landscaped common grounds. The well-equipped kitchen offers ample cabinetry, modern appliances, and a stacked washer and dryer for convenience. The primary bedroom features a walk-in closet and private en-suite bath, while the second bedroom and full hall bath provide versatility for guests, a home office, or shared living. Residents of Olde Mill enjoy beautifully maintained grounds and easy access to nearby parks, walking trails, and the scenic George Washington Memorial Parkway. This ideal location places you just minutes from Fort Belvoir, Old Town Alexandria, Mount Vernon, and the Potomac River, offering endless options for shopping, dining, and recreation. Commuters will appreciate proximity to Route 1, I-495, Huntington Metro Station, and the GW Parkway, with Reagan National Airport less than thirty minutes away.
Source: BRIGHT #VAFX2267246
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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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