Welcome home to this move in ready home, nestled in the back of the subdivision on a cul-de-sac, backing up to trees for ultimate privacy! Freshly painted, inside and out (to include deck, front rails, front porch and custom pantry floor in garage). Relax on your back deck, overlooking the above ground pool or the covered front porch or on a chilly night, cozy up to the wood burning fireplace in the living room. This home has space, inside and out! With 5 bedrooms and plenty of closets and storage space inside, 3 full bathrooms and a DOUBLE LOT totaling just over an acre, there is plenty of room to entertain or simply enjoy the pleasantries of family in a private setting. Custom wood folding counter in laundry space is a gorgeous upgrade to make the mundane a little easier. Tile flooring throughout main areas downstairs and brand new carpet in all bedrooms as well as on stairs leading to the upstairs bonus (closets included easily make this a 5th bedroom or bonus) and 4th bedroom, equipped with dual entry full bathroom. Before heading outside, note the custom pantry in garage and functioning stainless steel fridge in the garage, great for additional grocery storage or cool drinks for the hot summers. While out back, enjoy 2 gala apple trees, 2 pear trees, 2 peach trees and a wild plum tree that is overrun with fruit in the summer. Don't forget to tour the solidly constructed barn-style shed with loft in the backyard, which has a great port area for a ride on mower, golf cart or other ride-ons. Minutes from I-295 for quick commutes. Don't miss your opportunity to grab this home up and be ready for pool season, just around the corner.
212 Finch Rd, Fayetteville, NC 28306
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.
