So many pluses! ***This home qualifies for special financing as low as 4.875% & up to $10K in closing costs with preferred lender. Location! Location! Location! 4301 Brintons Cottage is located in the highly desirable Belmont Community in Raleigh. There is easy access to popular destinations, major highways and shopping. Move in ready 4 bedrooms and 3 baths, with options for the lifestyle you can imagine and create. Formal dining room for those holiday meals and large gatherings. Casually eat in breakfast area or at breakfast bar, all open to the family room with corner fireplace. The kitchen is equipped with a pantry, granite countertops, double ovens, premium stainless steel appliances all less than 4 years old. Guests or in-laws can enjoy a first floor bedroom adjacent to a full bathroom with walk in shower. The first floor features tall ceilings and crown moldings throughout the entire first floor. Hardwoods-No carpeting in the entire home. Three more bedrooms upstairs, two baths, laundry room and large family room (loft) . Two nicely sized bedrooms share a jack-and-jill styled bathroom with double vanity. The primary suite is a place to retreat and unwind. Large size to accomodate large furniture if desired or sitting area, very high trey celing, huge walk-in closet, water closet, double vanity, deep tub and seperate shower. Maximize outside living and entertainment starting with a covered front porch, enjoy morning coffee /tea on the screened back porch, enjoy the noon day on the open deck and evening meals prepared on the grilling patio. The level yard provides an opportunity to add more raised gardening beds. Uniquely located on the corner of a cul-de-sac, there is extra parking. More storage options outside for tools or lawn mower when considering the tall crawl space and under porch area with lattice and door. Large garage with sink.
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.
