PRICED TO SELL - WAY BELOW APPRAISED VALUE! Don't miss this spacious family home with beautiful water views and deeded waterfront access at the end of the road! Whether you love fishing, kayaking, or swimming, this property puts it all right at your fingertips. Inside, the main level features an open floor plan with a welcoming living room, dining area, and a beautiful kitchen. A convenient half bath and laundry room are also located on the ground floor. The kitchen features a large island with gorgeous granite countertops, ample cabinets, and a spacious pantry that accommodates an additional freezer. Step through the French doors off the kitchen onto your screened porch—the perfect spot for morning coffee or evenings with friends. Out back, you'll find a deck with a built-in table and benches, ideal for grilling and outdoor dining. The luxurious master suite, featuring a tray ceiling, offers a large bedroom, a spa-like en-suite bath with a granite-top double vanity, a large walk-in shower, a linen closet, and a spacious walk-in closet. Upstairs, the space offers three additional bedrooms, a full bathroom with a granite-top vanity, and a spacious bonus room with easy access to attic storage. The backyard is designed for fun: an above-ground pool with a sun deck, plus a cozy fire pit featuring swing seating for eight - perfect for roasting marshmallows and making memories under the stars. The property also includes an attached garage with parking for two, plus a second driveway that leads to a 20' x 25' detached garage/workshop—ideal for your boat, RV, or extra vehicles. 106 Barbour Drive is within an award-winning Croatan/Broad Creek School District, a short driving distance to Morehead City, shopping plazas, military bases, public boat ramps, the beautiful pristine Crystal Coast beaches, and more! This home truly has it all - space, style, and endless opportunities for outdoor living. Don't wait, call us today for your private showing.
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.
