One level living at the crossroads of Appalachia. Hot Springs NC is perfectly situated near everything the Smokies AND Blue Ridge mountains offer. Rafting, fishing, hiking, and motorcycle routes are all in the neighborhood. A scenic drive to Asheville NC or Gatlinburg TN offers cultural and amusement attractions that will fill your weekends with activity. For a local adventure, head 5 minutes away to "town" for a stop at the Spa, shopping, dining, or a quick day hike on the Appalachian Trail. This 3br/2ba with den/office space is a perfect place to call your new home. Vaulted ceilings in the living room and kitchen with natural wood plank ceilings and walls combine a feeling of cabin coziness with a Scandinavian aesthetic. A large kitchen has been improved with a new convection oven and range hood. Original hardwood cabinets provide immense storage. A new refrigerator and full height pantry round out this functional and well equipped kitchen. Every room has been recently painted and features custom fit blinds installed in the windows and large closets. New lighting, ceiling fans and fixtures in the bathrooms and main space further cement this house as move-in ready,. Features a show stopping covered wrap around porch that has earned this house the distinction locally of “that house with the huge deck”. The porch adds over 1000 sq ft of covered area to enjoy. A screened in space (8’ x 36’)has been added off the kitchen allows beautiful crosswinds when combined with the screen door in the living room. Additional amenities installed on property! Two storage sheds. One large 10’x12’ loft storage shed and one metal 8’x10’ garden shed. The above ground pool conveys and is fully functional and ready to swim. Small fenced in area attached to the porch allows easy pet access making this property very pet friendly. Native drought tolerant plantings and a half wooded lot make yard care a breeze. Come and soak up the peace and quiet and sounds of nature!
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.
