5898 Cove Harbour Dr King George, VA 22485
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About this home
*****FRESH APPRIASAL RECEIVED AT $1,300,000*****INSTANT EQUITY***** **Waterfront Haven on Potomac Creek** **Nearly 600 ft of private shoreline | 250-ft pier with lifts | Detached office suite** **Perfect location for someone who splits time between DC and Richmond. Or someone who wants a quite oasis away from the hustle and bustle, without long travel times.*** Experience the rare opportunity to own nearly 600 feet of Potomac Creek frontage with quick access to the Potomac River. Perched on a scenic knoll, this mid-century bungalow captures spectacular sunrises, sunsets, and sweeping water views—especially from the primary suite. **Main Residence:** Thoughtfully designed for comfort and charm, the home features exposed beams, soaring ceilings, and a cozy brick fireplace. The sunroom—complete with an indoor grill—invites year-round enjoyment of the serene surroundings. The primary bedroom sits conveniently on the main level, and a brand-new HVAC system ensures modern efficiency. Move right in, or let your imagination run wild with possibilities to renovate or build new. **Private Waterfront & Outdoor Living:** Step down to your private 250-foot pier with electricity, three boat lifts, and a jet ski lift—accessible by both yard and the historic Union Army ramp. Approval is already in place for a future concrete boat ramp. The property also includes long- and short-arm gun ranges, a koi pond, fruit trees, vegetable and Zen gardens, and ample fenced areas. **Detached Office Suite & Additional Features:** The detached garage has been converted into a versatile office space with two rooms, a full bath, and a kitchen—ideal for guests or remote work. Both buildings offer RV hookups, and Starlink internet (included) ensures seamless connectivity, recently enhanced by All Points Broadband. **Additional Highlights:** * Septic system rated for 5 bedrooms * Parking for 30–50 vehicles * All mounted TVs convey * Hunting and fishing permitted; tree stands included * Koi pond conveys Originally a three-bedroom home, one room has been converted into a spacious walk-in closet and sitting area off the primary suite but can easily revert to a bedroom if desired. Surrounded by abundant wildlife, this private, amenity-rich waterfront estate is just 15 minutes from downtown Fredericksburg, the VRE, and I-95. With easy boating access to local waterfront dining and Crow’s Nest Nature Preserve, this is **a sanctuary where every day feels like a getaway.**
Source: BRIGHT #VAKG2007180
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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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