This thoughtfully renovated 3-bedroom, 2 full bathroom home offers modern updates, flexible living, and a convenient location. Situated on a quiet street just minutes from downtown Statesville, the property provides easy access to Lake Norman, Mooresville, Charlotte, Mocksville, Winston-Salem, and major corridors including I-40 and I-77. Inside, nearly every detail has been updated with the new buyer in mind. Enjoy brand-new carpet and LVP flooring as well as fresh paint and trim throughout, in addition to doors, windows and hardware. Look forward to many days cooking in the new functional kitchen space that is equipped with all new appliances, counter tops, and cabinetry. The main area has been expanded for ample living space or to serve a dual purpose function. With a separate area for a designated dining area or additional sitting space, the home provides square footage and openness for gathering. The primary bathroom boast an attached full bathroom, a large walk in closet, and a generous additional closet for storage. Both bathrooms feature new vanities, and the home has undergone electrical / plumbing updates as well as a roof replacement in 2020, offering peace of mind and true move-in-ready convenience. Relax on the rebuilt front porch, or take advantage of the front and back yards, which are ready for your personal gardening touches, outdoor entertaining ideas, or future fencing. Enjoy access to the large detached shed in the back yard with plenty of storage for your outdoor necessities. A large detached carport and expansive driveway provide ample parking and everyday practicality. This property is an excellent fit for first-time homebuyers, a growing family, or those looking to downsize to convenient one-level living. It also presents a strong opportunity for investors, with estimated rental income around $2,000 per month in a high-demand area. Fully remodeled, ideally located, and full of potential—this Statesville home delivers on features, function, and versatility.
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.
