Expansive 4-Bedroom Home on 1.86 Acres with Endless Potential! Welcome to 38 Fish Lake Drive, a stunning and versatile mountain-region property nestled in the highly sought-after Fletcher area of Henderson County. Perfectly positioned just outside the town limits and ETJ, this home offers the ultimate blend of convenience and financial savvy—enjoy quick access to all local amenities without the burden of additional city/town taxes. Situated on a generous, unique 1.86-acre lot that encompasses both sides of Fish Lake Drive, this property provides the rare space and freedom to bring your Western North Carolina lifestyle dreams to life. Interior Highlights: Open-Concept & Split-Bedroom Design Step inside to a bright, expansive floor plan designed for modern living and effortless entertaining. • The Chef’s Kitchen: The heart of the home features beautiful hard-surface granite countertops, an oversized island/breakfast bar, abundant cabinetry, and a sizeable walk-in pantry. • Primary Suite Retreat: Located on its own wing for ultimate privacy, the primary bedroom boasts elegant tray ceilings, a spacious walk-in closet, and a luxurious en-suite bath complete with a garden tub & separate walk-in shower. • Additional Rooms/Guest Rooms: On the opposite side of the home, you will find three additional spacious bedrooms sharing a pristine full bathroom—an ideal layout for guests or a dedicated home office. • Main-Level Convenience: A dedicated laundry/mudroom sits just off the kitchen, serving as a functional transition zone with direct access to the back deck. • Open dining and living room, great for entertaining Outdoor Living & Unmatched Versatility • The Backyard Oasis: Transition seamlessly from indoor to outdoor living on the wonderful back deck. The fenced, private backyard is perfect for relaxing, entertaining, or letting pets roam safely. • The Daylight Basement: Accessible via two personnel doors or a convenient roll-up garage door, this massive, open space is a blank canvas. Transform it into a workshop, home gym, art studio, or finish it out to add instant equity and square footage. • The Bonus Acreage: Because the 1.86-acre lot extends across Fish Lake Drive, you have the unique opportunity and space to construct a detached garage, secondary workshop, or boat/RV storage. Location Benefits Enjoy the peace of country living without sacrificing convenience. This property puts you minutes away from shopping, dining, & parks, all while being centrally located to Asheville and Hendersonville. You can see the property video here: https://www.youtube.com/embed/wzAchgwiFZI and you can take a Virtual Tour at this link:https://my.matterport.com/show/?m=JjnzhyryHsL Shown by appointment only.
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.
