916 Bernard St Alexandria, VA 22314
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About this home
Stylish townhome located in Old Town Alexandria. A commuter's dream located within a short walking distance to two Metro Stations (Braddock Rd. and Potomac Yard) as well as easy access to GW Parkway, Route 1 and the Beltway. This 3 level home combines timeless charm with many modern updates. The main level has a large open concept living/dining with a galley-style kitchen that has recently updated appliances. The french doors lead out to a private back yard that has plenty of space for entertaining. There is a not only one, but two wood-burning fireplaces. The fully finished basement can be used as a family room, gym, or even a guest room as it comes complete with a fully remodeled bathroom. The utility room is large enough for your all of your storage needs. The light-filled bedrooms come with custom closets, the owner's suite has a walk in closet. New paint throughout the house as well as plantation-style shutters and new extras including roof and water heater just a few years old that will provide peace of mind for many years to come. Also, this townhome has a large corner lot as well as a driveway which is rare in Old Town. Close to all the amenities of Old Town Alexandria. Don't miss out on this turnkey gem, schedule your tour today!
Source: BRIGHT #VAAX2049694
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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.