Welcome to 3746 Lockerbie Court in Fayetteville! Nestled in the highly sought-after Preston community and located within the prestigious Jack Britt High School district, this exceptional all-brick home offers space, flexibility, and endless possibilities. Featuring 4 bedrooms, 4 full bathrooms, and 2 half bathrooms, this home is designed to accommodate multi-generational living, entertaining, or working from home. A private en-suite with its own rear entrance includes a second kitchen, abundant cabinetry, a full bath, and a walk-in closet...ideal as an in-law suite, guest quarters, or an incredible entertainment space. The main living area showcases a spacious great room, formal living and dining rooms, kitchen combination with breakfast bar, flex room/office and a screened porch overlooking the privacy-fenced backyard. The oversized owner's suite is a true retreat, complete with tray ceilings, private porch access, double vanities, a jetted soaking tub, and a separate glamour bath. Upstairs, the expansive 300+ square-foot bonus room serves as the fourth bedroom and features its own closet and full bath. Car enthusiasts appreciate the incredible detached two-bay workshop/garage featuring extra-tall bay doors, a vehicle lift, mini-split HVAC system, toilet, mud sink, and unfinished second-story space ready for future expansion. The home also includes an oversized side-entry two-car garage with a workbench, additional parking, outside storage and a whole-house generator for added peace of mind. The seller is offering a generous $20,000 concession that can be used toward cosmetic updates, repairs, closing costs, or to buy down your interest rate...allowing you to customize this incredible home to your personal style. This rare property combines location, size, functionality, and value in one remarkable package. Schedule your private tour 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.
