Welcome home to this charming and beautifully updated 3-bedroom, 2-bath brick ranch situated on just under an acre in a highly desirable location! Offering the perfect blend of country living and modern convenience, this property is located less than one minute from Rocky River Elementary School and within the sought-after school district, while remaining just minutes from Charlotte, Concord, shopping, dining, and everyday amenities. Step inside to discover a warm and inviting floor plan featuring newly remodeled kitchen and bathrooms, fresh paint throughout much of the home, attractive wood flooring, and a cozy gas log fireplace that creates the perfect gathering space. The updated kitchen offers modern finishes and functionality, making it ideal for both everyday living and entertaining. Major improvements provide peace of mind, including a roof installed in 2014 and a brand-new HVAC system installed in 2024. This well-maintained home is move-in ready and offers exceptional value. Outside, you'll find plenty of room to spread out and enjoy the outdoors. The expansive lot provides endless opportunities for gardening, recreation, pets, or future enhancements. Equestrian enthusiasts will appreciate the horse barn featuring three stalls, while the additional storage building offers ample space for tools, equipment, and hobbies. A single-car garage adds convenience and extra storage. Enjoy the benefits of no city taxes along with the independence of a private well and septic system. For added flexibility and future potential, county water is available for connection if desired. Whether you're looking for a peaceful retreat, space for horses, room to grow, or simply a well-cared-for home in an outstanding location, this property checks all the boxes. Don't miss this rare opportunity to own a charming brick home with modern updates, excellent schools, abundant outdoor space, and easy access to Charlotte and the Concord area. Schedule your showing today and experience everything this exceptional property has to offer!
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.
