3 bedroom, 2 and a half bathroom home located in Belvedere Plantation on the eastern side of Hampstead, close to Topsail Island beaches! 1679 sq ft with a two story layout and an open floor plan. Home has been lovingly cared for by a small family for the past 2 years, and has a neutral color pallette throughout! Upon pulling into the concrete driveway you will notice that the house is the last house at the end of the street and sits next to the tree line; making it perfect for buyers who desire privacy and tranquility. The front porch is welcoming and covered. Enter in through the front door to the open living room and dining room. There is an office room (with a door that closes) next to the living room that could have multiple uses! The kitchen has granite countertops, white subway tile backsplash, and appliances that were installed when the home was built three years ago in 2022. There is a half bath next to the kitchen and a laundry closet away from the bedrooms for convenience and less noise disturbance. Upstairs there are 3 bedrooms and 2 full bathrooms. The master bedroom has a walk in closet and spacious master bathroom has a walk-in shower! The backyard is large and has a treeline in the back between our lot and the rest of the neighborhood behind! Located in the Topsail School District and one of the few homes that is in Belvedere subdivision but does not pay HOA fees and is not governed by the HOA rules. Covenants are in place for the subdivision. Home has a septic tank and uses Carolina Water. Property will be coming soon and not available for showings until October 10th 2025!!
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.
