Waterfront on Lake Blalock | This beautifully designed 3-bedroom, 3.5-bath single-story waterfront home features +/- 2,447 sq ft of thoughtfully planned main-level living plus an impressive +/-2,447 sq ft unfinished walk-out basement with soaring 12-foot ceilings, providing exceptional flexibility to build a private dock, expand living space, or create the ultimate recreation retreat. The open concept layout is ideal for everyday living and entertaining, anchored by a chef’s kitchen featuring stainless steel appliances, granite countertops, an expansive island with pull-up bar seating, and a charming breakfast area that flows seamlessly into the great room. The great room showcases a striking stone fireplace and tranquil lake views. The split floor plan creates exceptional privacy, with a spacious owner’s suite featuring tray ceilings and a spa-like bathroom complete with dual vanities, a soaking tub, and a separate tiled shower. Two additional guest bedrooms, a dedicated office, and a well-appointed dining area are all conveniently located on the main level. Downstairs, the +/- 2,447 sq ft unfinished basement is already equipped with a full bathroom, a partially finished office, and plumbing for a kitchenette, making it ideal for future entertaining space, recreation areas, storage for lake toys, or hobbies. With 12-foot ceilings, this space is perfectly suited for a golf simulator, home theater, or custom build out tailored to your lifestyle. Outdoor living is a true highlight, featuring an expansive deck and a covered patio ideal for grilling, enjoying morning coffee, or simply taking in peaceful lake views. Located in the sought-after gated community of Glenn Harbour Estates at Lake Blalock, residents enjoy access to a community dock and lakeside pavilion, completing this exceptional lake lifestyle opportunity.
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.
