Welcome to 302 Breckenridge, where everyday living feels like a retreat on the lake. This 4-bedroom, 3-bath beauty spans over 3,200 square feet and has been lovingly upgraded to blend comfort, charm, and practicality. From the moment you step inside, you'll realize this is more than a house—it's a place where life slows down and memories flourish. The main level shines with brand-new LVP flooring (2025) and abundant natural light. A four-seasons sunroom (2022) stretches across the back, offering the perfect perch to sip morning coffee, watch the lake sparkle, or cozy up with a book on a rainy afternoon. The kitchen, complete with a Whirlpool refrigerator that conveys, flows seamlessly into the living spaces, making it perfect for gatherings. Upstairs, the home reveals a whimsical twist: a studio-style retreat. This thoughtfully finished space includes a living room, private bedroom with dual closets, a small office, a full bath, and a walk-in closet cleverly designed along the long hall leading to the attic. It's ideal for guests, multi-generational living, or a quiet creative hideaway. The outdoor spaces tell their own story. A brand-new fortified roof was just put on this year (2025). A 30-foot retaining wall (2022) and leveled shoreline create a peaceful, walkable path along the water, while a professionally installed aluminum fence (2021) offers both charm and security. Gardeners will delight in the 12 raised cypress beds and a backyard orchard overflowing with apples, peaches, figs, cherries, pomegranates, olives, bananas, grapes, and more—plus perennial flowers and berries that keep the landscape colorful and fruitful year after year. Imagine harvesting peaches in the summer, pomegranates in the fall, and blueberries in the spring—all from your own yard. And while this home feels like a peaceful escape, it's also wonderfully convenient. Just a short drive places you in Havelock, home of MCAS Cherry Point, or in historic downtown New Bern with its shops, restaurants, and waterfront charm. Whether commuting for work, enjoying a night out, or coming home to your lakeside retreat, you truly get the best of both worlds. From casting a line in the included Jon boat, to watching the sun dance on the water, to harvesting your own backyard orchard, 302 Breckenridge offers a lifestyle that feels straight out of a storybookwaiting for you to write the next chapter.
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.
