Assumable low-interest VA loan available for qualified buyers—even non-veterans may be eligible to assume the loan, subject to lender approval. Seller is offering the home partially furnished, providing an opportunity for an easier transition into mountain living. Perched above Burnsville with sweeping views of Mount Celo and the Black Mountain Range, 305 Majestic Mountain Drive offers privacy, comfort, and easy access to town. Tucked away at the end of the road, this well-maintained mountain home combines a peaceful setting with the convenience of being just minutes from downtown Burnsville’s shops, restaurants, and local attractions. The main level is designed for easy everyday living, featuring wide doorways, an open living area with vaulted ceilings, recessed lighting, and an electric fireplace. The kitchen is equipped with oak cabinetry and all major appliances, while a spacious laundry room includes built-in storage along with the washer and dryer. The primary suite is conveniently located on the main floor and includes a walk-in closet, full bath, and direct access to the living area. A dedicated workspace with built-in cabinetry provides a practical option for remote work or household organization. Upstairs, a large loft overlooks the living space below and is accompanied by an additional bedroom and full bath, creating a comfortable area for guests or extended family. Outdoor living is a highlight of this property, with covered porch space and expansive decking positioned to take full advantage of the mountain scenery. Additional features include an attached garage with heating and cooling, a whole-house generator, low-maintenance exterior finishes, and numerous recent improvements. Updates include a tankless water heater installed in 2025, LeafFilter gutter guards with lifetime warranty added in 2025, and a new well pump installed in 2026. The home is also covered by a Terminix termite bond that is paid through May 2027, providing additional peace of mind for the next owner. Whether you’re searching for a full-time residence or a seasonal mountain retreat, 305 Majestic Mountain Drive offers outstanding views, thoughtful updates, and a desirable location in the heart of Western North Carolina.
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.
