618 E Gladstone Ave Richmond, VA 23222
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About this home
Welcome home to 618 E. Gladstone Ave. in Richmond’s sought-after Highland Park neighborhood, where historic charm meets modern revitalization just minutes from downtown! This charming 5 bedroom, 2 bath home has been beautifully updated and lovingly maintained. From the moment you arrive, you’ll appreciate the fully fenced yard, freshly mulched beds, and large covered front porch, perfect for relaxing or greeting neighbors. Step inside to find rich hardwood floors, detailed rosettes and wood trim on the windows and doorways, decorative crown molding, and a transom window that fills the home with natural light. The inviting living room features a decorative fireplace with an ornate cast iron inset, showcasing intricate scrollwork that adds warmth and historic character. A hallway full bath with a linen closet and tiled tub/shower combo leads to a flex room, ideal as a home office, playroom, or optional 5th bedroom. The kitchen blends modern convenience with classic style, offering granite countertops, modern cabinetry, and LVP flooring. Just off the kitchen, you’ll find access to the rear patio and a convenient laundry area with stackable washer/dryer. Upstairs, the original staircase spindles highlight the home’s craftsmanship, leading to four spacious bedrooms, each with plush carpet and generous closet space. The full hall bath features beadboard accent walls, large subway tile tub/shower combo, and a modern vanity and fixtures. Outside, enjoy a level, private backyard with endless possibilities! Create a garden, add a firepit or patio area, or build a detached storage shed to house all your outdoor toys! Highland Park offers a vibrant mix of updated historic homes, new construction, and community developments. Enjoy easy access to local favorites like the Richmond Raceway Complex and Virginia Credit Union LIVE! amphitheater.
Source: CENTRALVIRGINIA #2528908
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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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