9786 Lorraine Carol Way Lorton, VA 22079
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About this home
Assumable 2.75% VA Loan for eligible veterans! Welcome to this beautifully maintained home offering almost 3,700 square feet of total living space. From the moment you step through the front door, natural sunlight fills the home, creating a warm and inviting atmosphere. You’ll love the gleaming hardwood floors that flow through the formal living and dining rooms, leading to the heart of the home, a beautifully updated kitchen with stainless steel appliances, a center island, and generous counter space. The kitchen opens to a cozy breakfast nook and spacious family room, perfect for everyday living and entertaining. Step outside to a lovely deck and fenced backyard, ideal for grilling, relaxing, or hosting gatherings in a peaceful, landscaped setting. Unwind by the family room fireplace, or head downstairs to the fully finished basement, a versatile space that can serve as a game room, home theater, gym, or guest area. There’s also abundant storage space. Upstairs, retreat to your luxurious primary suite featuring a soaking tub, separate shower, and a walk-in closet large enough for two. Spacious additional bedrooms provide comfort and flexibility for everyone. This home has been lovingly cared for and is truly move-in ready. Don’t miss the opportunity to make this splendid home your own!
Source: BRIGHT #VAFX2276376
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Close stress-free in 45 days, handled start to finish by Roam.
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If you find a better price on any home, we’ll match it.
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.