Located in a great neighborhood just minutes from Downtown Morganton, this 4-bedroom home offers a wonderful blend of space, functionality, and timeless charm. Step inside to an elegant first impression featuring a winding staircase that welcomes you into the home. The updated kitchen showcases beautiful countertops that continue into the backsplash, creating a clean and elevated look. Enjoy both an eat-in kitchen and formal dining room, giving flexibility for everyday living and entertaining alike. Step out onto the large back deck overlooking the private backyard. The spacious living room provides plenty of room to gather, while the cozy den features a fireplace and built-in shelving, making it an ideal second living area, home office, or reading room. A convenient half bath for guests and the laundry room are also located on the main level. Upstairs, all four bedrooms are thoughtfully situated together, including a well-appointed primary suite featuring dual sinks, a soaking tub, and separate shower. Three additional bedrooms and a full hall bathroom complete this level. The finished basement features a recreation room complete with a full bathroom, offering endless possibilities for entertaining, hobbies, guests or flex space. From here, step out onto the covered patio tucked beneath the back deck, creating multiple spaces to relax and enjoy the outdoors. Situated on a generous corner lot, this property offers plenty of room to enjoy outdoor living. The main-level 2-car garage provides everyday convenience, while the additional basement garage is perfect for lawn equipment, workshop space, or extra storage. From its flexible floor plan to its sought-after location near Downtown Morganton, this home is ready to fit a variety of lifestyles.
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.
