8408 Conover Pl Alexandria, VA 22308
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About this home
Welcome to 8408 Conover Place - a beautifully updated, light-filled home in the heart of the highly sought-after Waynewood community! This spacious 5-bedroom, 2-bathroom gem offers over 2300 square feet of comfortable living across multiple levels, with room for everyone and every need. This home comes with a 2.75% VA assumable loan up to $417,000, offering today’s buyers a unique opportunity to lock in incredible savings. Step inside to find an inviting living room with a cozy wood burning fireplace, and a light-filled family room with a wood-burning stove and skylights. The open-concept kitchen flows effortlessly into the dining room and family room making entertaining a breeze. Upstairs, you’ll find three spacious bedrooms and a full bath, while the lower level offers two additional bedrooms and a second full bath, providing flexibility for guests, a home office, or a playroom. A bonus room above the garage, complete with windows, skylights and fresh carpet, offers additional space for a gym, media room, or creative studio. Step outside to a generous backyard with a privacy fence, offering both space and seclusion..There’s plenty of room for grilling, dining al fresco, or gathering around a firepit with friends. Living in Waynewood means being part of one of Alexandria’s most desirable communities. With tree-lined streets, a neighborhood pool, tennis courts, playgrounds, and the nearby Mount Vernon Trail along the Potomac River, there’s no shortage of ways to enjoy the outdoors. All this, just minutes from Old Town Alexandria, and Washington, D.C.
Source: BRIGHT #VAFX2265230
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.