Tucked onto a spacious corner lot in a quiet Marion loop, this 2002-built manufactured home delivers the square footage and flexibility that so many buyers are hunting for but rarely find in this price range. With 4 true bedrooms, and 2 full baths, it is designed for real life: multi-generational living, work-from-home needs, or simply wanting everyone to have a room of their own. The split-bedroom layout places the generous primary suite on one side of the home and the secondary bedrooms on the other, creating privacy while keeping everyone connected to the shared living spaces in the center of the house. Inside, an open-concept living room invites you to spread out, entertain, and unwind without sacrificing sightlines or connection. The kitchen sits at the heart of the home, making it easy to cook while staying part of the conversation in the adjoining living and dining areas. Four bedrooms mean options: a dedicated office, craft space, playroom, guest room, or all of the above. Two full baths, including a spacious primary bath typical of newer doublewides, support busy mornings and bedtime routines without bottlenecks. Ample closet space and a dedicated utility/laundry area help keep day-to-day life organized and out of view. Outdoors, the 0.86-acre corner lot offers room to roam without overwhelming maintenance. There is space for gardening, pets, or simply spreading out and enjoying the fresh McDowell County air. A screened back porch creates a private, shaded outdoor room—ideal for morning coffee, evening wind-downs, or three-season use when you want to be outside but away from bugs and weather. A large toolshed and additional storage allow you to tuck away lawn equipment, seasonal décor, and gear so the inside of the home can stay uncluttered. Parking is easy, with room for multiple vehicles and everyday comings and goings. This home features a 100 sq ft heated utility room off the carport for hobbies or storage and a whole home generator for added peace of mind. Located just outside town on Luke's Loop, this property keeps you close to Marion’s shopping, dining, and services while feeling distinctly residential and relaxed. You are also within an easy drive of Lake James, regional outdoor recreation, and major corridors connecting you to the rest of Western North Carolina. With its combination of one-level living, generous square footage, flexible floor plan, and usable lot, this home is a compelling option for anyone looking for value without giving up comfort or convenience. The annual HOA dues are solely for private road maintenance, and is a minimal $200/year. There are no other use restrictions. The home is currently occupied, so for showings, contact the listing agent or have your agent consult Showing Time.
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.
