Experience a relaxed, refined way of life in the in the highly coveted “Forest” section of Bailey’s Glen, Lake Norman’s premier 55+ community. This beautifully designed home greets you with a classic brick façade, a rocking-chair front porch made for morning coffee, and a front-facing garage featuring built-in storage that’s perfect for a workshop or hobby retreat. Inside, the thoughtful split-bedroom layout blends comfort with effortless flow. Warm wood floors carry through the main living spaces, leading to a beautifully appointed kitchen that feels both functional and elevated. It features GE Profile appliances, including double convection ovens, gas cooktop, a farmhouse sink, soft-close cabinetry with pull-out lower shelves, a specialty upper cabinet designed for baking essentials, and two well-placed pantries — one thoughtfully extended for added storage. The expansive L-shaped screened porch that spans the back of the home, complete with entry from the dining room or great room. This stunning outdoor living space feels like an extension of the interior, offering multiple areas for dining, lounging, and gathering while enjoying fresh air, natural light, and peaceful surroundings year-round. The thoughtfully designed outdoor kitchen elevates the experience with a grill featuring rotisserie attachments, convenient drawers, and a beverage refrigerator — ideal for weekend barbecues, sunset dinners, or quiet evenings at home with friends and neighbors. A cozy flex space with closet and full bathroom provides options as a guest suite, creative space, or private workspace. The spacious laundry room connects directly to the primary bath and offers generous cabinetry and counter space for everyday convenience. The primary suite is a serene retreat, featuring dual custom walk-in closets accessed through a spa-like bath with dual vanities and a large walk-in shower. A unique doorway from the bedroom into the great room creates an easy circular flow through the home. With its seamless indoor-outdoor living, thoughtful design, and friendly neighborhood atmosphere, this home offers the perfect blend of comfort, elegance, and community in Bailey’s Glen.
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.
