5199 Tobacco Rd, Orrum, NC 28369
3 beds · 3 baths · 3,400 sqft
Get a free consultation call with an expert in the mortgage assumption process.
This 25-acre horse farm offers a blend of open fields, wooded areas, and peaceful seclusion. The property is mostly fenced for horses, with two stocked ponds—one featuring a dock—and a beautiful pecan grove. Two wells are located on-site, along with two tobacco barns and attached sheds. The gated property features an 800-foot concrete driveway leading to the home, with additional concrete access to the nearby shop. The 40x50 horse barn has four 15x15 stalls, a center hall grooming area, a tack room, a feed room, lights, and water. It offers ample space for equine care and easy operation. The home spans 3,400 square feet, with three bedrooms—two featuring walk-in closets, and a third with two double closets. The master suite includes a walk-in closet and an air-jetted tub. There are three full baths, including a hall bath with walk-in closet #3 and an oversized shower. The main living areas consist of a den, a living room with a working fireplace, and a sunroom (16x24) with a 16x24 deck, a 12x8 pool deck, and privacy fencing. The kitchen is equipped with a new stove, dishwasher, vented hood, and an island with storage and outlets. There is also a spacious pantry and laundry room. The property also features two large shops with concrete floors: one measuring 25x40 feet with a commercial sink, cabinets, gas stove piping, and room for two cars; and another 19x58 feet with space for one car and plenty of shelves, along with a built-in fan. Additional features include a 3-car attached garage with attic storage, a utility sink, gas wall heaters, and an alarm system. The home has hardwood, tile, and carpet flooring, including brick tile in the sunroom. Located just 1 hour and 6 minutes from North Myrtle Beach with easy access to I-95, you're a short drive from Lumberton, Fayetteville, and Florence. This property offers peace, privacy, and great views from every room.
Source: NORTHCAROLINAREGIONAL #100478722
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: NORTHCAROLINAREGIONAL #100478722
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.