6101 Edsall Rd Apt 312 Unit 312 Alexandria, VA 22304
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About this home
Welcome home to Unit 312 at sought after Alexandria Knolls West Condominiums. This popular 1405 square foot end unit offers two spacious bedrooms and two fully updated baths. It has been tastefully enhanced with value added improvements including: Newer HVAC units, sliding glass doors and window, shut off valves, kitchen appliances and countertops, luxury vinyl plank flooring, lighting, paint, chalk board wall abutting the built in wet bar, and new non-popcorn ceilings. The spectacular 40 foot balcony with trendy composite flooring offers a beautiful view of trees and garden (gas grilling is allowed). And as if all this was not enough, Unit 312 conveys with two deeded parking spaces. This unique condo home is ready and waiting for its new owner. All the work has been done for you ... Just Move In! NOTE: Please excuse our hallway dust. AKW is undergoing maintenance and improvement projects. Our bearing wall repairs are currently underway and expect to be followed by new elevators and updated residential hallways. This "makeover" is a huge effort and is being financed primarily through a construction loan. Unit 312's financial participation has been pre-paid by the existing Seller. The new owners will be able to enjoy the great reveal and improvements with no financial obligation on their part.
Source: BRIGHT #VAAX2051348
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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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