Welcome to 108 Young Rider Lane, a beautifully appointed 10.06-acre horse farm offering the perfect blend of refined living, functional equestrian amenities and just mins from the Outer Banks. The property features an 8-stall horse barn complete with its own bathroom and tack room, along with approximately 4 acres of fenced pasture that can be easily configured into four individual one-acre pastures, providing excellent flexibility for rotation, training, or boarding. A private pond enhances the property's peaceful, country setting, and a chicken coop with an automatic door adds to the farm's practicality and self-sufficient charm. The 3,000 sq ft home offers 4 bedrooms, with 3 bedrooms featuring their own en suite baths, with a total of 4 full bathrooms. A versatile bonus room is ideal for a home office or additional living space. A large, finished frog provides even more flexibility and could be used as an entertainment space, media room, or game room. Originally built in 2003, the home was fully renovated in 2020 and continues to show thoughtful updates, including new carpet in 2025, a new stone patio and fire pit, and multiple HVAC updates in 2019, 2022, and 2023. Enjoy outdoor living from the large front porch, perfect for relaxing afternoons, or the spacious backyard overlooking the pond an ideal setting to enjoy peaceful country living. This exceptional property offers space, comfort, and functionality for those seeking an equestrian lifestyle or a private rural retreat.
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.
