A front porch made for morning coffee, a back deck big enough for evening conversations with the neighbors AND their friends, and over 2,400 square feet of space to truly live in — this charming Kings Grant home blends gorgeous curb appeal with everyday comfort...WITHOUT the HOA fees! ~~ Inside, more than 2,400 square feet provides room to spread out and live comfortably. Hardwood floors, a spacious living room, formal dining/flex space, and a sunny kitchen nook create inviting gathering spaces, while the downstairs primary suite offers a relaxing retreat with trey ceiling, soaking tub, and separate shower. Upstairs, a large bonus room with two closets opens the door for endless possibilities: media room, playroom, guest space, home gym, or home office. A mudroom with washer and dryer sits conveniently between the kitchen and two-car garage, and a walk-in attic makes storage refreshingly simple. Step outside to enjoy the privacy-fenced backyard with mature trees and landscaping creating a peaceful backdrop. Classic dormers and a full-length front porch give the home standout curb appeal. Location adds even more value: walking distance to Methodist University, minutes from nature and fitness at the Cape Fear River Trail, shopping, dining, and gym time along Ramsey Street, and quick access to I-295 for easy travel throughout Fayetteville, Raeford, and Hope Mills. With major updates including HVAC (2021) and water heater (2024), generous square footage, and pricing below competing homes, this property offers space, character, and convenience all in one.
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.
