SELLER IS WILLING TO PAY UP TO $5000 IN BUYER CLOSING COSTS WITH ACCEPTABLE OFFER! Welcome to 1623 Main Divide Drive, a beautifully maintained 3-story single family home in the desirable Bowling Green community of Wake Forest. This 3-bedroom, 2 full bath, and 2 half baths home offers a flexible and spacious floor plan, stylish finishes, and abundant natural light throughout. The main floor features beautiful flooring, an open-concept living and dining area, and a modern kitchen complete with granite countertops, stainless steel appliances, a tile backsplash, and a large island perfect for gathering and entertaining. The second level includes 3 generously sized bedrooms, 2 full bath, laundry area, and ample closet space. The entire third floor offers a large, open flex space with a half bath and abundant storage, making it incredibly versatile. Whether you need a private home office, bonus room, playroom, workout space, or guest area, this level can easily adapt to your needs. Step outside to your own private courtyard-style retreat, featuring a cozy patio and tranquil setting. Perfect for unwinding, grilling out, or savoring peaceful mornings. An irrigation system ensures the lush landscaping stays vibrant all year long. A detached 2-car garage sits just beyond a covered breezeway, offering a convenient connection to the home. The garage also features a large walk-up storage area with a pull-down stairway, providing even more usable space. The A\C was replaced 1 year ago. 25 year architectural roof shingles. With ample storage on every level, this home is as practical as it is stylish. Community amenities include a pool, playground, and walking trails. Conveniently located near shopping, dining, schools, parks, and major commuter routes. This home offers low-maintenance living in one of Wake Forest's most vibrant neighborhoods.
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.
