Impeccably maintained and updated 3 story, 6BR/5BA home with bonus room situated on a corner lot in the highly sought after Weatherstone community and J.V. Warsham Elementary. Walk-in on refinished and stained hardwood floors throughout the open floor plan. A large office/great room welcomes you with dual staircases for access to the 2nd floor. A grand formal dining room is an elegant space designed for hosting. Continue to the fully renovated bathroom and 1st floor bedroom. Enter the dramatic living room with soaring high ceilings, and striking double-mantle gas fireplace serving as a grand focal point. The spacious kitchen features granite countertops, a center island, double ovens, and a bright breakfast nook, with updated stainless-steel appliances most installed in 2022. Designed for everyday living, functionality, and includes a generous workspace or coffee bar. The walk-in laundry and pantry have ample storage with custom shelving and/or cabinetry designed for organization. On the 2nd floor enter into the primary suite w/sitting area, and two custom closets! The suite has been upgraded with a freestanding tub, a beautiful tiled shower, LED mirrors, & dbl vanity. There are 3BR, 2BA that are fully renovated w/new flooring, cabinetry, lighting, & granite countertops. Find the bonus room w/closet, perfect for evening retreats! Take the 3rd staircase up to the space which will also blow your mind! Walk into the 3rd floor living space with a 5th full bathroom that is completely renovated, a gym or rec room for entertaining plus an additional office or bedroom with closet! There are ample shared living spaces in this home! This corner-lot property features a beautifully appointed backyard with a deck, horseshoe area, and a stone fire pit pad, complemented by a wraparound front porch, three-car garage, encapsulated crawl space, and fresh exterior paint completed (2022). Some improvements include a new roof (2022), water heater (2022), 3rd floor HVAC and furnace (2022), 2nd floor HVAC and furnace (2022). The community amenities include sidewalks, a clubhouse, pool, tennis courts, pickleball court, playground, and greenway areas.It is just minutes from Lake Norman, Birkdale Village, Cain Performing Arts Center, action play systems, Roosevelt Wilson Park, and top-rated schools. This home has been appraised to support the asking price, so don't miss your chance to own a move-in ready, well-maintained home in Cornelius, NC! Be sure to view the 3D tour link!
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
