This is the one you’ve been waiting for! Balancing function and beauty, this one-of-a-kind Surrey Crest home sits on a gorgeous premium cul-de-sac lot that backs to the Carolina Lakes golf course and offers fabulous views from the great room, screened porch, and versatile flex room, as well as from the privacy of the primary bedroom retreat. The beautiful backyard features a large paver patio and the front of the home offers a view of the trees and lake across the cul-de-sac. There’s nature’s beauty everywhere! Special features include wood flooring and extra-wide crown molding throughout, with tile in the laundry and bathrooms. The spacious great room features a gas fireplace and sliding doors to the lovely tiled screened porch. The kitchen is a cook’s delight with KitchenAid stainless steel appliances that include a gas range and a new refrigerator, a center island offering additional workspace, cabinet space, and seating, an energy efficient solar tube that provides wonderful natural light, granite counters, tile backsplash, beautiful wainscoting, and under and over cabinet lighting. Work, play, or relax in the bright flex room that can be used for whatever purpose suits your needs - office, den, study, or hobby room. The primary bedroom suite features a tray ceiling, custom walk-in closet, and an ensuite bathroom with a garden tub, dual-sink vanity with pull-out shelves, frameless glass shower surround, safety grab bars, and a private water closet. Extra features include a stunning stained glass front door, a sink and counter space in the laundry room, and an extended garage. Now is the time to live your dream! Come and enjoy all the beautiful amenities & diverse activities this premier 55+ resort-like community has to offer! Located just south of Charlotte, NC, Sun City Carolina Lakes has a public golf course and is in close proximity to shopping, restaurants, medical facilities, recreation areas, entertainment, and more, which make it one of the most-sought-after communities in the area!
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.
