Set on 2.53 beautiful acres, this brick home offers the perfect balance of open space and everyday comfort. Designed with both function and flexibility in mind, the property is well suited for those seeking room for animals, outdoor hobbies, or simply a quieter lifestyle with plenty of breathing room. The home features 3 bedrooms and 3.5 bathrooms, providing a comfortable layout for a variety of needs. Inside, rich hardwood flooring and stylish tile add character throughout the home, while two fireplaces bring warmth and charm to multiple living spaces. The expansive kitchen is a standout feature, offering ample space for gatherings, meal prep, and everyday living. The primary bedroom provides a peaceful retreat and includes a spa-like bathroom with a walk-in shower featuring dual shower heads and a soaking tub designed for relaxation. The home features a Rinnai tankless gas water heater, offering endless hot water and improved energy efficiency. Storage will never be an issue thanks to generous closet space and thoughtful design throughout the home. The fully finished basement offers more than 1600 square feet of additional living area, creating endless options for a home gym, media room, office, or guest space. Outdoors, the land is equipped with a barn suitable for livestock as well as a chicken coop, making it easy to enjoy fresh eggs and embrace a small-farm lifestyle. The barn is serviced with electricity and water and the chicken coop is wired with electricity, adding convenience and functionality to the property. The fully fenced in backyard provides ample space for children and pets to safely enjoy the outdoors. All of this comes with the added benefit of convenience. The home is located close to shopping and dining, just 10 minutes from Interstate 40 and 15 minutes from Interstate 77. Charlotte Douglas International Airport is only 50 minutes away, and Iredell Memorial Hospital is a quick 12-minute drive. This property offers the rare combination of space, privacy, and accessibility—an ideal opportunity for those wanting more room without giving up modern comforts. Seller does have current appraisal.
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.
