Two (2) move in ready homes! Package Deal in this Unique opportunity to own two homes on over 4 acres. Private boat ramp with over 200 feet of river frontage on the Northeast Cape Fear River. The first home features 3 bedrooms, 2 full baths in this 3600 sq ft modular on pilings. Open floor plan with a gourmet kitchen with a double oven, built-in microwave, Frigidaire Gallery refrigerator, cabinets galore and room for all your small appliances on beautiful countertops. The living room features a fireplace and plenty of room for your family. Formal dining area also. 16 x 14 Master bedroom features a walk-in closet large enough for all your clothes. Master bath features a double vanity, a soaking tub and a walk-in shower. Split floorplan with bedroom 2 and 3 at the other end of the home. 9 x 14 utility/laundry room features a sink, a storage closet, and plenty of room to add shelves. All stainless-steel appliances in the kitchen are included in the sale. Finished upstairs just needs you to decide whether you're going to leave it all open or add a few walls & doors for extra rooms, such as an office, a playroom, a family room, the possibilities are endless. All the flooring, paint and HVAC is done. Enjoy sitting on the 44 x 6 covered porch and listening to the birds sing or watching the children play. Don't worry about having to carry groceries up the stairs; there is an outdoor elevator at the end of the covered front porch! The back deck has a generator plug. Underneath the home you'll find rocked parking area under part of the home. On the other side you will find a concrete area that is great for cookouts, entertaining your family and friends, or just lying in a hammock. The 2nd home is a 2019, well-kept 3-bedroom, 2 full bath home on a separate well and septic. It features a 40 x 10 screen-in front porch. This home would be great for additional family or maybe a rental. On the property you will find a wired Conex with running water and electricity, and a 2 year old steel building with a roll door, concrete lean-to area and a side door access. There are 2 more wells and septic tanks that have not been used since Florence, but they may be able to be used for additional structures if Pender County allows. Down at the river, there is a concrete slab where you could fry up your fish you catch off of the riverbank or while you're out fishing in your boat that you launched from your very own boat ramp. Many fruit trees throughout the property including pear, peach and apple. There are also grapevines. Don't forget to bring the chickens, because there is a chicken pen too. This property offers so much, which makes it hard to name them all. Don't wait, make your private showing today!
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.
