Discover the comfort, privacy, and flexibility of country living in this well-maintained all-brick ranch situated on approximately 1.58 level acres in desirable West Rowan County. Surrounded by mature woods and offering a fully fenced backyard, this 4-bedroom, 2.5-bath home provides a peaceful setting with plenty of room to enjoy both indoor and outdoor living. Inside, you'll find a flexible floor plan designed for everyday comfort and entertaining. The spacious kitchen features solid oak cabinetry, quality appliances, an almost-new refrigerator, and a center island that can serve as additional workspace, casual dining, or be easily removed to create even more open space. The adjoining living room is highlighted by a classic masonry wood-burning fireplace, creating a warm and inviting gathering area. The primary suite includes an easy-access walk-in shower, while replacement flooring completed during the current ownership, newer toilets, and numerous updated light fixtures add to the home's appeal. Step outside to enjoy the large rear deck overlooking a huge, private backyard surrounded by trees. The fully fenced rear yard offers an ideal space for pets, play, gardening, outdoor gatherings, or simply relaxing while enjoying the peaceful natural surroundings. The property's level topography provides excellent usability and versatility rarely found in rural settings. Additional features include gutter guards, a septic system pumped in 2022, an oversized 2-car garage with a dedicated storage nook, and a substantial 25' x 11' storage shed offering approximately 285 square feet of additional storage space for equipment, tools, hobbies, or recreational gear. Located in a quiet neighborhood known for friendly neighbors and a relaxed atmosphere, this property combines the benefits of rural living and lower county taxes with convenient access to everyday amenities. Students are assigned to the highly regarded West Rowan Elementary School, West Rowan Middle School, and West Rowan High School. Conveniently positioned near Salisbury, Mooresville, and the greater Charlotte region, residents enjoy access to shopping, dining, healthcare, parks, and recreation while still returning home to a peaceful country setting. Move-in ready today with opportunities to make it your own over time, this attractive brick ranch offers space, privacy, and value in one of Rowan County's most desirable locations.
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.
