Mountain living at its best in gated Catawba Falls Preserve. Built in 2022, this thoughtfully designed one-level 3 bedroom, 2 bath home with a large study/bonus room sits on nearly 4 private acres with peaceful mountain views and the added benefit of a recreation easement, creating the feel of an even larger flat usable yard. Located with a Black Mountain address in McDowell County, you’ll enjoy the convenience of lower county taxes while still being just minutes from everything Western North Carolina has to offer. Designed for both comfort and functionality, this home features granite countertops, wooden Koch soft-close cabinetry throughout, under-cabinet lighting in the kitchen and laundry, and a new stove with air fry and convection options. The spacious garage includes 240v electrical, while the home is already wired for CCTV security and a full home audio system for seamless modern living. Extensive recent upgrades make this property truly turnkey, including a Quiet Run whole-home generator, in-ground 500-gallon propane tank with backup heat access, hybrid 80-gallon smart heat pump water heater, whole-home HEPA air filtration system, Smart Ecobee thermostats with 3-zone comfort settings, upgraded pressure tank with spin-down water filtration, and an outdoor grilling station with power. Outside, enjoy excellent landscaping with native trees, shrubs, and bulbs, a quarter-acre garden, concrete pad and sidewalk near the driveway, and peaceful outdoor spaces designed to take full advantage of the mountain setting. Privacy, usability, and quality improvements come together to create a home that feels both elevated and effortless.
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.
