Charming 3-Bedroom Home in Historic Cooleemee – Spacious, Updated & Full of Character! Welcome to this inviting 3-bedroom, 2-bathroom home offering 1,699 sq. ft. of living space in the heart of historic Cooleemee. Situated on the sought-after Center Street, this property blends classic charm with modern updates — all at a price below the area’s median per-square-foot value. Step inside and be greeted by a functional floorplan with hardwood floors that extend through much of the home. The layout offers plenty of space for comfortable living, featuring a cozy den, living room, a formal dining room, and a kitchen with a cheerful breakfast nook. The kitchen is operational with new granite countertops, a deep oversized sink with an extending nozzle, and a stove, refrigerator and microwave that are all less than 3 years old. Enjoy your morning coffee or unwind in the evening in your 156 sq. ft. all-glass enclosed front porch, perfect for watching the world go by. With ceiling fans in six rooms, comfort is always within reach. The home’s major pricy components have been thoughtfully updated: Roof, gas furnace, central air, hot water heater, and windows (2017) Main water line from house to street replaced (2018) Step outside the back door to find a nice deck overlooking a new partially fenced, backyard, ideal for kids, pets or relaxing while grilling. Home has an unfinished basement with 6 ft ceiling and has an attic w/ wood flooring both for extra storage. House also comes with a termite bond that is transferable. While the home could use a little TLC, it’s move-in ready and offers exceptional value — combining historic character, modern improvements, and a prime location. Don't miss your chance to make this spacious and charming Cooleemee home your own! Don’t miss your chance to make this spacious and charming Cooleemee home your own!
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.
