Welcome to 309 Weston Lane, a rare opportunity to own a custom-designed, one-owner estate home in the highly sought-after Westhampton subdivision, known for its spacious estate-sized lots and convenient Chapel Hill location. Situated on a beautiful level 2.77-acre corner lot with a circular driveway, this unique one-level residence offers exceptional privacy, comfort, and room to enjoy both indoor and outdoor living. A welcoming foyer lined with custom built-in bookcases introduces the home's distinctive character and thoughtful design. The heart of the home is the stunning sunken living room featuring a cozy fireplace and an impressive folding door wall that seamlessly connects the interior living spaces to an extraordinary outdoor entertaining area. Designed around the expansive patio courtyard, the outdoor spaces include a covered deck, patio with fire pit, and an enormous backyard with plenty of room for soccer, recreation, gardening, or future enhancements. The spacious open floor plan is ideal for both everyday living and entertaining. The large kitchen features an oversized island, generous dining area, and a beautiful, exposed stone accent wall that adds warmth and charm. The home offers four spacious bedrooms, each with custom closet built-ins, along with three full bathrooms and a convenient half bath.Additional living spaces include a comfortable family room and two versatile flex rooms perfectly suited for home offices, hobbies, exercise, or creative pursuits. The oversized three-car garage connects to a large mudroom and half bath, providing exceptional functionality for active households. Move-in ready features include roll-up window blinds, ceiling fans throughout, and quality custom finishes that reflect the care and craftsmanship of this one-owner home. Enjoy the tranquility of estate living while remaining just minutes from UNC-Chapel Hill, UNC Hospitals, downtown Chapel Hill, shopping, dining, and major commuting routes. This is a unique opportunity to own a truly special property offering space, privacy, and timeless design in one of Chapel Hill's most desirable neighborhoods.
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.
