Welcome to this adorable 3-bedroom, 2-bath Cape Cod nestled in the heart of Holly Springs! From the moment you arrive, you’re greeted by a large covered front porch—perfect for relaxing and enjoying the peaceful surroundings. Inside, the inviting family room features durable LVP flooring, a beautiful stone fireplace, ceiling fan, and an elegant double trey ceiling, creating a warm and stylish space to relax. The updated eat-in kitchen is a true highlight, offering white cabinetry, quartz countertops, a tile backsplash, stainless apron sink, stainless appliances, and additional custom cabinetry for extra storage, all accented by a unique custom tile feature wall. The primary suite is thoughtfully designed with LVP flooring, a double trey ceiling, ceiling fan, and a spacious walk-in closet. The en-suite bath has been freshly painted and provides a great opportunity to add your own personal touches, complete with a vanity area and tub/shower combo. Secondary bedrooms are generously sized and feature LVP flooring and ceiling fans, while the hall bath offers updated flooring, a nice vanity, and a tub/shower combination. Best of all, there is no carpet anywhere in the home. Step outside to enjoy a private backyard oasis situated on a half-acre lot, complete with a deck and a fenced yard featuring a firepit area—perfect for entertaining or unwinding. With no HOA, you have the freedom to truly make this property your own. Additional updates include a BRAND NEW water heater and a roof that is only 5 years young, offering peace of mind for years to come. Partially unfinished basement area is excellent for workshop or storage! Conveniently located with easy access to I-575, as well as nearby shopping and dining, this home combines charm, comfort, and accessibility. As an added bonus, the seller is offering an assumable VA loan at an exceptional 2.65% interest rate—an incredible opportunity for qualified buyers.
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.
