410 Lamp Post Drive is a modern mountain retreat offering the perfect lock-and-leave setup. For those looking to access hiking trails, breweries, dining, and more, you are five minutes from Highway 25, allowing for an effortless trip to Asheville or Travelers Rest. It's rare to find views like this without sacrificing convenience. Flat Rock is a mere 7 minutes away, and downtown Hendersonville is less than 15 minutes from your front door. This proximity puts the best of Western North Carolina and the Upstate of South Carolina within reach. From the driveway, the rustic stone steps take you up to the covered front porch on main floor, overlooking the landscaped front yard. Stunning floor-to-ceiling windows framing the southeastern year round views will take your breath away as you enter the main foyer. The main living quarters feel like a treehouse with mountain views from nearly every room and three covered porches, including one that leads into the primary suite. It’s the ultimate layout for privacy, with the living and sleeping spaces tucked away from the lower level. The finished basement and two-car garage are ready to accommodate your vision: a home gym, a dedicated workshop, multigenerational living, a short-term rental, or a home office. You can enter this space from the interior through the garage or via the French doors off the beautiful 54-foot back deck. If you are looking to escape the suburban cookie-cutter, embrace 410 Lamp Post Drive, a home designed to adapt to your lifestyle.
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.
