Tucked away in a quiet and moslty lakefront community, this beautifully maintained mountain retreat offers the perfect blend of comfort, charm, and easy living and lake access. Situated on 1.41 gentle, usable acres, the property features a large level front yard, mature landscaping, paved driveway, outdoor firepit area, back yard privacy and a wraparound porch with beautiful t&g ceilings and designed for relaxing and soaking in the peaceful surroundings. The attached 2-car garage is connected by a covered walkway for convenient access in every season. Inside, you'll find a warm and inviting great room with soaring high ceilings, a stunning stone fireplace, and an open layout filled with natural light. The kitchen offers solid surface countertops, stainless steel appliances, and plenty of space for gathering and entertaining. The split-level design provides functionality and privacy, with just a few steps leading to the spacious primary suite with spacious walk-in closet with custom built-ins, integrated drawer storage and second bedroom both with vaulted t&g ceilings, while the terrace-level family/bonus room offers additional living space along with a third bedroom and full bath with walk-out access to the outdoors. Smack dab in the middle of it all, this property is conveniently located just minutes from Murphy, NC, Harrah's Cherokee Valley River Casino, Downtown Blairsville, and Downtown Blue Ridge. Lake Nottely public boat ramp is less than 5 minutes away, and lake access is only steps from the front porch. Located in a peaceful neighborhood with the perfect balance of privacy and convenience, this home is ideal as a full-time residence or a 2nd home mountain getaway. Photos simply don't capture the setting and charm of this home - a must-see in person! **Don't forget to check out the walk-thru video**
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.
