Welcome to 300 Westlake Drive, Waxhaw, NC 28173 in the highly desirable Weddington Preserve community, zoned for award-winning Weddington schools. This exceptional 5-bedroom, 4.5-bath residence offers over 4,400 square feet of thoughtfully designed open-concept living. Elegant yet functional, the home features a spacious main-level guest suite ideal for multi-generational living, along with a beautifully updated kitchen complete with an expansive pantry and seamless flow into the main living areas. Everyday convenience is elevated with a drop zone entry from the three-car garage and an oversized laundry room offering abundant storage. Spacious primary suite with a sitting area, and two large walk-in closets. Custom closet systems in each bedroom and a walk-in storage area off the bonus room provide exceptional organization and flexibility. Outdoor living is equally impressive. Enjoy year-round relaxation in the 3-season sunporch overlooking a stunning saltwater pool with and travertine decking, and custom built grill area makes it perfect for entertaining or unwinding in your private backyard retreat. A rare opportunity to own a meticulously maintained home offering luxury, function, and resort-style amenities in one of Weddington’s premier neighborhoods. Sunroom is wired for heating/cooling. Professional outdoor lighting installed for front yard (2025) and back yard (2022).
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.
