Welcome to 2131 Sunset Avenue, a charming cottage in Durham's beloved Watts-Hillandale neighborhood, where thoughtful updates and an unbeatable location create the perfect blend of comfort and convenience. Renovated bathrooms, an updated kitchen, and a family room addition give this home style, functionality, and a little extra room to spread out. Known for its historic character, walkable streets, and strong sense of community, Watts-Hillandale remains one of Durham's most sought-after neighborhoods. Duke University, Duke Hospital, downtown Durham, Ninth Street, local restaurants, and everyday shopping are all just minutes away. For those who appreciate both urban convenience and access to nature, the location is hard to beat. Ellerbe Creek Trail and Indian Trail Park are just one block away, while two additional neighborhood parks are within easy walking distance. At home, a private fenced backyard offers a peaceful retreat for relaxing, gardening, or entertaining. The main-floor primary suite features a spacious en-suite bath and direct access to the deck. Two additional flex spaces—one on the main level and one upstairs—provide options for guest rooms, home offices, hobbies, or additional living space. The upstairs room features sloped ceilings and is not included in the reported square footage because less than 50% of the area has a ceiling height above 7 feet. However, it has long functioned as a bedroom and has been reported as livable space in both MLS records and city documentation. Additional storage is available through bonus closets on the second floor and a backyard storage shed. Major improvements include a roof installed in 2019 and a water heater replaced in 2025. This is a rare opportunity to enjoy the character of an established Durham neighborhood while benefiting from nearby parks, trails, Duke, and downtown amenities.
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.
