Welcome to your dream multi-generational home located in the exquisite and highly sought-after Princeton Manor community in Knightdale. Only 10 minutes from downtown Raleigh or North Hills, located just off Hodge road, this SIX bedroom, three-and-a-half-bath home boasts gorgeous hardwoods throughout the first floor with a brand new neutral paint palette. Private dining room featuring coffered ceilings and floating glass shelving with a beautiful chandelier. The Chef's kitchen has granite countertops, tile backsplash, modern stainless steel appliances, ample storage space, a raised bar, and in-ceiling speakers perfect for entertaining. The open family area is centered around a beautiful corner backlit fireplace, perfect for a mounted television. The downstairs owner's suite offers a trey ceiling, a huge walk-in closet, a dual vanity bathroom complete with soaking tub and separate shower. Upstairs, you will find five additional bedrooms with brand new carpet. The oversized owner's suite upstairs has a custom-built closet perfect for the person with the biggest and most stylish wardrobe, and a newly renovated bathroom with a walk-in tile shower featuring dual shower heads, seat and smart lights/speakers. Outside, you will find a cozy screened-in porch equipped with a mounted TV and ceiling fan overlooking your very private, fully fenced-in yard. Don't miss the concrete cornhole boards and horseshoe pit just outside the fence on the owner's property (this is not community space). For the outdoor enthusiast or dog walker, the Raleigh Greenway has direct access just 30 yards behind the property. The oversized 2-car garage offers tons of storage options, an existing car charging port, and a plumbed 2nd washer and dryer. Lastly, the neighborhood offers a beautiful pool and playground set up along with an open play area for the kiddos. Social events private to the Princeton Manor neighborhood include: Cookies with Santa and Christmas decorating contest, Pool parties with live music, Halloween hayrides, bingo, scavenger hunts, Easter Bunny and egg hunts, cornhole tournaments, and 4th of July celebrations, all included in neighborhood dues! Come check out this home today!
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.
