Welcome to this beautifully updated 3-bedroom, 2.5-bath home offering comfort, style, and easy living in the heart of Oriental. Thoughtfully redesigned and well cared for, this home is truly move-in ready. The bright, open living room features cathedral ceilings and large windows that fill the space with natural light. Bamboo floors and granite countertops add warmth and durability throughout. The fully renovated kitchen includes wood cabinetry, a large granite island, stainless farmhouse sink with reverse osmosis faucet, modern appliances, and a brand-new gas cooktop and electric wall oven. Just off the kitchen, a cozy Carolina room overlooks the landscaped yard and is perfect for morning coffee or relaxing afternoons. The adjacent dining area flows easily for everyday meals or entertaining. The main level offers a peaceful primary suite, a home office, and a flexible bonus room currently used as a laundry area that can easily convert to a fourth bedroom. Upstairs, two guest bedrooms and a quiet sitting area provide privacy and comfort. Separate HVAC zones ensure efficient, year-round comfort. Outdoor spaces include a screened breezeway, sunny patio, and a deck surrounded by mature gardens. A detached 23' x 27' workshop or studio with its own mini-split HVAC offers excellent space for hobbies, storage, or creative use. A detached two-car garage and concrete driveway add convenience. The home sits on a beautifully landscaped corner lot, high and dry and outside the 100-year flood zone, and is walking, biking, or golf-cart distance to town shops, restaurants, parks, and the beach. Additional highlights include a fully encapsulated crawl space, lifetime warranty on windows, and a history of regular maintenance with established maintenance plans—providing peace of mind for years to come.
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.
