Nestled in the sought-after Kendrick Farm community of Mount Holly. This spacious 4-bedroom, 2.5-bathroom, over 2900 square feet, this home delivers a perfect blend of ample space and functional layout. From the moment you pull into the driveway, the inviting covered front porch offers a warm welcome with views of the community playground and picnic area. The home opens to an expansive main level designed for effortless entertaining. Multiple living and dining spaces provide incredible versatility. The spacious family room leads into an open concept kitchen and dining area. Just beyond the kitchen, there’s a massive walk-in pantry with plenty of storage and the main floor powder room. Upstairs, the oversized primary suite offers a true retreat with a large primary bathroom w/ soaking tub, separate shower, dual vanities and expansive walk-in closet. There are three additional bedrooms perfect for extended family, guests, work-from-home office, or hobbies. The extra-large laundry is located upstairs equipped with folding tables. The second floor is anchored by a large flex space perfect for family gatherings, can be used as a play room, game room or home gym. Discover the fully fenced backyard with the perfect amount of usable, flat green space with two patios great for hosting cookouts or just relaxing. The community offers amenities including a community pool, clubhouse, and playground, great for meeting new neighbors and friends. The location is truly unbeatable. Mount Holly offers the perfect balance of small-town charm and big-city convenience. You are just minutes away from historic downtown Mount Holly with its local shops, breweries and dining, 15 minutes from historic downtown Belmont, minutes from lake access at Mountain Island Lake and the U.S. National Whitewater Center. Easy commute to Charlotte International Airport and Uptown Charlotte.
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.
