Back on the market, no fault of seller! Tucked away in the scenic foothills, located in the sought after Dudley Shoals area, this beautifully maintained log home on almost 7 acres offers rustic charm and room to grow. Wake up to serene mornings on your rocking chair front porch sipping coffee as birdsong and gentle breezes welcome the day with natures beauty unfolding right before you. Inside, you’ll find a spacious, functional layout with an inviting main living area that flows seamlessly into the kitchen and dining space, ideal for both everyday living and entertaining. The kitchen has been updated with new stainless steel appliances, offering a clean, modern contrast to the warmth of the natural wood interior, plenty of storage and a breakfast bar that provides additional seating. Enjoy winter evenings gathered around the rustic stone fireplace with the new wood stove insert (Regency) in the living room. Upstairs offers a large family room, full bathroom and two additional bedrooms with a 4th room currently being used as a home gym. Primary suite on main level with his and hers walk-in closets, a large garden tub, tiled walk-in shower, and dual vanities. Step out back on the large deck to enjoy the fenced-in backyard, perfect for pets, play, or simply relaxing in your own private outdoor space. The logs were professionally refinished in 2022 providing long term durability. Surrounded by the natural beauty of Western North Carolina, this property offers the peace and privacy buyers are looking for while still being conveniently located to Lenoir, Hickory, and the High Country. This home is full of character—and one you don’t want to miss.
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.
