Circa1895 with updated roof and HVAC already in place this home is located in the heart of Rose Hill, NC. This property is must see if you are searching for vintage details and unique exterior appeal. The front of the home features a small bricked front patio, ornamental wood fencing, and white scallop trim detail. Step inside the 6x15 ft foyer and find original hardwood flooring, custom wide moldings, and built-in bookcases. The home features those high ceilings we all crave. The main living room features additional built ins and gives you tons of natural light flowing into the formal Dining Room. A sunroom sits off the main LR. A galley style kitchen features black appliances and adjoins a large breakfast room. The 17x12 ft. breakfast room could serve as an art studio or den and features built-in cabinetry too. A 15x17 primary bedroom showcases the era of the home with a built in seating niche ,original cast iron insert and mantle, and easily allows access to the bathrooms. A home office could easily be used as a 4th bedroom, if needed. Private fenced in back yard is perfect to create your own oasis for gardening or reading. Two sheds will remain with the home for all your outdoor storage needs. The refrigerator, washer and dryer will also stay with the home. Sellers replaced both the roof and HVAC within the past 4+/- years. So you can spend your funds on updating other items as you wish inside. Do not miss out on this rare opportunity to own a piece of Rose Hill history. Walk to restaurants, the town library and shopping. Home of the Rose Hill Jubilee Festival and the Worlds Largest Frying Pan. Small town living at its finest but located just 5 minutes to interstate 40. Drive to Jacksonville in 35 minutes, Wilmington in 45 minutes and Goldsboro in less than an hour or cruise down to the gorgeous NC beaches. The home is served by town water, sewer and trash pickup. Schedule a viewing today and come back to small town living away from traffic and busy city
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.
