Relocating and looking to close and move the end of June? This is the perfect one for you! Perfectly positioned directly across from the neighborhood pond and green space, this stunning 5-bedroom, 5-bathroom home in the highly sought-after 12 Oaks community delivers the lifestyle you've been waiting for, and then some.Step inside and discover 3,788 square feet of thoughtfully designed living space that is truly move-in ready. The home shows like a model, combining timeless finishes with exceptional attention to detail throughout. Designed for effortless outdoor living, the backyard is an entertainer's dream: a built-in outdoor kitchen, a cozy outdoor fireplace, a relaxing hot tub, and professionally designed landscaping, all elevated by artfully curated landscape lighting and architectural lighting on the front elevation that makes this home shine from the moment you pull up. And just steps from your front door? The full amenity suite that defines the 12 Oaks experience. From the moment you cross the street, you'll have access to pickleball and tennis courts, three resort-style swimming pools, a state-of-the-art fitness center, scenic walking trails, and a vibrant community clubhouse with events and activities for all ages all set within a Jack Nicklaus-designed golf course.The location is equally impressive. The brand-new Oak View Commons shopping center with a growing lineup of shops and restaurants is right around the corner. The home is also in the Wake County School District, with a variety of charter and private school options nearby as well. Quick access to the 540 puts you just 25-30 minutes from Raleigh, RTP, Durham, and Chapel Hill, making this the perfect home base for wherever life takes you. Homes like this don't last. Welcome to 404 Honeyridge Lane, where every day feels like a retreat.
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.
