Welcome to 4 Stockwood Drive in Asheville, NC 28803. This well-maintained home offers a highly convenient central location just minutes to downtown Asheville, I-40, Black Mountain, Fletcher, Arden, Hendersonville, and both Mission and Advent Hospitals. The main level features an easy, one-level floor plan with three bedrooms and one and a half baths, original hardwood floors, and a cozy open fireplace. Subtle Mid-Century modern style influences give the home a timeless appeal, emphasizing clean lines, warmth, and an abundance of natural light that creates an open, comfortable feel throughout. The kitchen features gorgeous wood cabinets that add character and warmth while blending beautifully with the home’s classic style. The layout is practical and easy to live in, with an inviting flow that works well for both everyday living and entertaining. The primary bathroom has been recently updated, adding comfort and functionality. The semi-finished basement includes a cozy family room and fireplace and offers flexible space that can be personalized for a guest area, recreation room, or home office, with potential to further renovate for an apartment or in-law suite. Flooring in the finished section of the basement is exposed concrete.2017 Metal roof! 900 SF unfinished space on lower level provides generous storage or room for a workshop. Outside, enjoy a private flagstone patio ideal for cookouts, grilling, and relaxing. Easy parking at the carport adds daily convenience, and the partially fenced yard is manageable and functional—perfect for pets or gardening. The home is located in a desirable school district, and offers excellent access to all parts of Asheville along with city utilities, including city water and city sewer— . A solid, well-cared-for home with timeless style in a highly convenient location.
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.
